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Develop a business plan
Develop a business plan
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StudBud Administration
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28 plays
Refresher quiz for business plan development
Flashcards
22 cards
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Practice quiz
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Questions
22
Answers
1
In many cases the sole purpose for the business is to make money for the owners?
False
True
2
A human resources plan must cover anticipated future of the business?
True
False
3
Big hotels are exempt from including their environmental sustainability in their business plan.
Yes
No
4
A marketing plan must include at least 7 KPIs
False
True
5
Which of the following is not applicable - I obtain information from competitors by?
Asking suppliers
Poaching clients
Advertising
Strategic partnerships
6
Which statement does not fit - When analyzing a competitor you must consider the following:
Who are your competitors
How will they respond to you
How can you prevent them from success
What are they trying to achieve
7
A PEST analysis is
Potential, economic, smart, timely
Political, effective, stylish, timely
Political, economic, social, technological
Potential, effective, smart, technological
8
Employees and relevant experts may be asked to help with the development of your business plan?
True
False
9
A business plan must include a detailed budget?
True
False
10
Only management need to know when changes are made to operational plans?
True
False
11
Professional development is not needed for staff in hospitality?
False
True
12
It is useful to know the strategies and techniques used by your competitors?
False
True
13
Staff involvement is important when building business. A good theory is?
Feedback from only managers and stakeholders
360 degree feedback
Client and guest surveys only
180 degree feedback
14
A competitor is any business that is near yours, regardless of what they offer?
False
True
15
Which of the following does NOT apply. - Other considerations in a business plan include?
Legal and ethical requirements
Sustainability
Staff involvement
Personal lives
16
Business plans are created purely for the purpose of a bank loan
True
False
17
Which of the following is incorrect. When developing a business plan you must consider?
Politics
Human resources
Marketing
Operations
18
Legal and ethical requirements must be laid out in a business plan
False
True
19
A business plan once developed is not referred to again until there is a change in management?
False
True
20
What answer is incorrect - Stakeholders include?
Managers
Competitors
Industry bodies
Suppliers
21
Maintaining good business relationships is not part of quality management
False
True
22
The environment is NOT considered when developing a business plan?
True
False
