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