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the Business Plan
the Business Plan
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Business Plan Terms
Flashcards
30 cards
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Practice quiz
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Questions
30
Answers
1
What type of Risk is the threat of loss without chance for gain?
Speculative Risk
Property Risk
Liability Risk
Pure Risk
2
What are the four ways of handling Risks?
Avoiding, Transering, Insuring, Assuming
Transfering Insuring, Ignoring, Assuming
Mitigating, Avoiding Insuring, transfering
Ignoring, Mitigating, Refusing, Insuring
3
What is the most important part of your marketing campaign
Identifying your industry
Identifying your competition
Knowing your Primary Customer
Determining your budget
4
Gathering information on perspective competitors is done for which part of the business plan
Financial Plan
Market Analysis
Organizational Plan
Key Risks
5
Which type of Risk Handling is the result of finishing and activity & accepting consequences?
Assuming
Mitigating
Transfering
Insuring
6
A 30 second statement about your companies vision and goal is called a?
Blurb
Mission Statement
Executive Summary
Company Action Plan
7
What is not considered an effective advertising tool
Flyers
Open Air
Newspapers
Bill Boards
8
What is a Target Market?
group of people having similar needs/wants
your secondary customers
Your primary customers
none of these
9
What type of Economic Risk Results in personal loss?
Personal Risk
Property Risk
Pure Risk
Liability Risk
10
Bill Boards are and example of what type of media
Open Air Media
Social Media
Print Media
Personal Media
11
Identifying Day to Day Costs are part of which section
Executive Summary
Marketing Analysis
marketing
Operations
12
What is the Fiscal Period?
Dec - Dec
Jan - Dec
Period of time covered in an accounting statement
Jan - Jan
13
What is an Assett
Accounts Payable
Bills
Things taking away value from your business
Things adding value to your business
14
CFO Stands for?
Chief Field Officer
Chief Funding Officer
Chief Facility Officer
Chief Financial Officer
15
What type of risk offers the chance for gain or loss?
Gambling Risk
Uncontrollable Risk
Speculative Risk
Controllable Risk
16
What is the amount of money you add to a price after estimating the cost?
Manufacturing cost
Break Even point
Mark Down
Mark Up
17
When you Avoid risk you are?
Ignoring the risk and hoping it doesn't happen
declining to engage in the activity that causes the risk
Controlling Risk so the risk is less
Not realizing there is a risk
18
What is a Liability?
Things that add value to your business
Equipment
Number of employees you have
Things that take value away from your business
19
which section describes the organization structure of your business
Financial Plan
Organization Plan
Operations Plan
Management Team Plan
20
CEO Stands for
Chief Executive Officer
Chief Environmental Officer
Chief Engineering Officer
Chief Executor Officer
21
Your main customers are?
customers you don't worry about attracting?
Who your getting the most money from
who you want to attract to your business
Who will advertise your business for you
22
What type of media is considered very effective?
Open Air
Personal
Social
Print
23
COO stand for?
Chief Office Operatior
Chief Operations Officer
Chief Organization Officer
Chief Of Operations
24
What is Owners Equity?
Net worth - Liabilities
Assets + Net Worth
Liabilities - Assets
Assets - Liabilities
25
How many ways are there of handling Risk?
4
6
3
5
26
Why do you need to identify your industry?
To know who your customers are?
To know where to sell your product
To know what your financial plan will be
To know your competition
27
What risk has to meet certain criteria to be mitigated?
Insurable Risk
Controllable Risk
Unpredictable Risk
Liability Risk
28
Demographics are different for every business
False
True
29
How many types of risk are there?
7
8
6
5
30
Which Section describes how each member of your team will contribute?
Operational Plan
Organizational Plan
Management Team Plan
Marketing Plan
