The benefits of a business plan are: (select all correct answers)

Gives Business Direction/Viability, Sources Finance

Employees of a company are interested in its Business Plans in order to... (Select all correct answers)

Judge possible expansion of a business and thus promotion opportunities, Confirm/Ensure their future employment security

What is a business plan?

An overview document about the business and its future opportunities

Which of the following is not interested in a business plan

Government body (to adjust taxation based on market projections)

The 'Business Section' of a business plan should discuss... (select all which are correct)

Form of business ownership (Partnership, Ltd., Sole Trader, etc.), Personal investment made by each key stakeholder

Which are the five stakeholders that have an interest in business plans?

Employees, Investors, Financial Institutions, Management, Suppliers

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LC Business 5.10-5.12 - Business Plans

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LC5.10-5.12 - Business Plans Unit 5 Syllabus Point/s: 5.10 5.11 5.12

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Questions 12

Answers

1
A proper business plan should set out goals for...
No Concrete Time Period for Goals
Short Term only
Long Term only
Both Long and Short Term
2
Business Plans are Important For:
All of the Above.
Start-ups trying to get loans/investment for their young company.
Established businesses looking for a change of direction/investors/loans.
Companies trying to set realistic and concrete goals for their future.
3
The benefits of a business plan are: (select all correct answers)
All of the Above
Gives Business Direction/Viability
Attracts New Employees
Sources Finance
4
The 'Finance Section' of a business plan should have financial projections for a period of 7-10 years
False
True
5
A business plan's targets are more qualitative and subjective than quantitative and concrete
True
False
6
Employees of a company are interested in its Business Plans in order to... (Select all correct answers)
To measure true performance against projections and judge its development
Judge possible expansion of a business and thus promotion opportunities
To judge the business's viability and decide if they should invest in it
Confirm/Ensure their future employment security
7
What is a business plan?
A spreadsheet of all credits and debits of a business
A bi-annual review by the ministry of finance of all businesses in a sector
An overview document about the business and its future opportunities
An official document about a business proposal; needed to start a company
8
In most cases, financial institutions will not give out loans to businesses without a business plan
False
True
9
Which is not a 'main section' of a business plan?
Entrepreneurship Strategy
Finance
Market Description
Marketing Strategy
10
Which of the following is not interested in a business plan
Investors in a Company (to judge the profitability of an investment)
Government body (to adjust taxation based on market projections)
Suppliers (to ensure a business can sustain any offered line of credit)
Financial Institutions (To aid with decision about capital loan terms)
11
The 'Business Section' of a business plan should discuss... (select all which are correct)
Form of business ownership (Partnership, Ltd., Sole Trader, etc.)
An outline of existing competitors in the target market
Expected yearly profits of the business (5 Years)
Personal investment made by each key stakeholder
12
Which are the five stakeholders that have an interest in business plans?
Management, Financial Institutions, Taxing Bodies, Employees, Investors
Employees, Investors, Financial Institutions, Suppliers, Customers
Employees, Investors, Financial Institutions, Management, Suppliers
Taxing Bodies, Customers, Management, Financial Institutions, Employees

LC Business 5.10-5.12 - Business Plans Flashcards | StudBud