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Questions and Answers
What is a small business according to the text?
What is a small business according to the text?
- A business that dominates its market
- An independent business with fewer than 1000 employees
- An independent business with fewer than 500 employees, not dominant in its market (correct)
- A business with fewer than 100 employees
What is the purpose of an executive summary in a business plan?
What is the purpose of an executive summary in a business plan?
- To provide detailed financial forecasts
- To outline the company’s mission and vision
- To briefly answer the who, what, where, when, why, and how questions for the business (correct)
- To describe the firm’s target market and marketing plan
What does a business plan provide?
What does a business plan provide?
- An orderly statement of a company’s goals, methods, and standards (correct)
- A detailed history of the company
- A list of the company’s competitors
- A summary of the company’s achievements
What is included in the introduction of a business plan?
What is included in the introduction of a business plan?
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Why are résumés of principals included in business plans?
Why are résumés of principals included in business plans?
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