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Entrepreneurship-Chapter 2 Flashcards | StudBud
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Entrepreneurship-Chapter 2
Entrepreneurship-Chapter 2
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The Business Plan: Road Map to Success
Flashcards
20 cards
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Practice quiz
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Questions
20
Answers
1
7) It is best to wait to write a business plan until you find lenders or investors.
True
False
2
4) Bankers and other potential investors will often refuse to see an entrepreneur who does not have a ________.
C) resumé
B) sales forecast
A) complete business plan
D) marketing plan
3
12) The ________ addresses the roles of the community, region, nation, and world in a business.
A) business analysis
D) proof of market
C) industry analysis
B) environmental analysis
4
17) Telemarketing is a form of ________.
B) publicity
A) advertising
C) direct marketing
D) None of the above.
5
20) Ratio analysis can help business owners ________.
A) secure funding
B) manage operations
C) understand their performance relative to peers
D) All of the above.
6
5) Writing a business plan can ensure that you ________.
D) make a profit
A) achieve your expense projections
C) meet your target revenue goals
B) figure out how to make your business work
7
3) A feasibility analysis helps making a go/no go decision in a sufficient degree of detail to ensure reliable results.
False
True
8
16) Price should reflect the organization's ________.
B) vision
C) strategy
A) policy
D) All of the above.
9
15) The four factors that form marketing mix are ________.
B) product, place, politics, and price
D) product, price, promotion, and public opinion
C) product, packaging, promotion, and price
A) product, price, promotion, and place
10
2) The Business Model Canvas has ________ core building blocks that are intended to supply answers to critical question
D) 8
A) 3
C) 6
B) 9
11
18) Cash flow ________ be negative before debt and equity infusions and ________ be negative after them.
D) can, can
A) can, cannot
C) cannot, can
B) cannot, cannot
12
1) A(n) ________ is a company's plan to generate revenue and make a profit from operations.
C) analysis
A) business plan
B) marketing plan
D) business model
13
8) A business plan is the key to raising capital.
True
False
14
11) One section of the business plan that is often neglected is the ________.
D) Financial Projections
B) Opportunity Analysis and Research
C) Executive Summary
A) Marketing Plan
15
9) Why a start-up organization needs to write a business plan?
Writing a business plan early will save you time and money.
The business plan is an operations' guide.
Your business plan is the key to raising capital.
All is correct.
16
13) Target market segments are defined by common factors such as ________.
A) psychographics
B) geography
D) All of the above.
C) demographics
17
19) Income statement projections realistically ________ in the first few months of operations.
D) show marginal profits
B) show profits
C) break even
A) show losses
18
14) A competitive analysis is an important component of ________.
D) All of the above.
A) a mission statement
C) a vision statement
B) opportunity analysis
19
6) A(n) ________ can be a front line of defense against a poor idea.
D) business plan
C) objective
B) mission
A) goal
20
10) The ________ section of the business plan should be written last.
C) Executive Summary
D) Financial Statements
B) Mission, Vision, Culture
A) Cover Page
