Which one of the items below is NOT a typical reason to write a business plan?

To demonstrate good literacy skills

What is the best definition of a business plan?

A plan for the development of the business incl. forecasts

is financing obtained from investment firms that finance small, risky bus.

Which 2 pieces of information would you need to project the sales of a new fitness club?

The number of members and the monthly membership fee

What content are you most likely to find under the title "Markets" in a business plan?

Age, gender and other characteristics of potential customers

Which is most likely to be part of your financial projections?

Expected sales, costs and cash flows

Which one of the businesses below would be direct competitors of a new local bowling alley?

Odeon Cinemas and Laser Quest next door

Why is it crucial to include information on the mgmt team in your business plan?

Expertise and experience are crucial for business success

Which one of the lists below includes ONLY regular sections of a business plan?

Product, Financial Projections, Funding Requirement

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Duplicate of Business Plans

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This is a starter activity to follow up on previous learning - Y10 Business Studies

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Questions 14

Answers

1
Which one of the items below is NOT a typical reason to write a business plan?
To demonstrate good literacy skills
To prove that there is strong demand for the product
To obtain finance from banks or investors
To show that cash flows are sufficient for survival
2
What is the name of the first section of the business plan listing its main conclusions?
Executive Summary
Sales Forecast
Marketing Plan
Funding Requirements
3
What is the best definition of a business plan?
A plan for the development of the business incl. forecasts
A description of how sales are generated
The company's management's daily schedule
A list of the equipment the business needs to buy
4
Venture capital:
gives the investor no voice in how the company is run.
is another name for the principal which a business borrows from a bank
is financing obtained from investment firms that finance small, risky bus.
is borrowed money invested in start-up businesses and provided by the SBA
5
Which 2 pieces of information would you need to project the sales of a new fitness club?
The number of members and the monthly membership fee
The surface area and the number of showers
The opening hours and the type of equipment installed
The age of your customers and their exercise habits
6
What content are you most likely to find under the title "Markets" in a business plan?
The location of the company's headquarters
The types of product the business intends to sell
Current price of fruits and vegetables
Age, gender and other characteristics of potential customers
7
Andy wants to start business. He loves golf! He wants a floating golf ball! What does he include in his business plan?
all of the above
a management plan
an analysis of the market in which the company will operate
the elements of the company that make it unique
8
The first step in starting your own business is:
to determine where the funding will come from
Business Plan
choose a form of business organization
Select management
9
What does USP stand for when talking about business plans?
Urban Services Plan
Unique Selling Point
United States Penitentiary
Universal Self-Loading Pistol
10
_____ is at the core of most business failures.
Inadequate planning
Low interest rate
Too much inventory
Poor cash flow
11
Which is most likely to be part of your financial projections?
Expected sales, costs and cash flows
The opening hours of you business
The parking spaces available to your customers
The colour of your product's packaging
12
Which one of the businesses below would be direct competitors of a new local bowling alley?
Odeon Cinemas and Laser Quest next door
Happy Tails Doggy Daycare
Costa Cafe and Starbucks
Tesco's and Boots nearby
13
Why is it crucial to include information on the mgmt team in your business plan?
In order to avoid discrimination
Banks need to know where to find key managers
Expertise and experience are crucial for business success
It will be easier for managers to remember all the names
14
Which one of the lists below includes ONLY regular sections of a business plan?
Executive summary, Colour Scheme, Production/Operations
Product, Financial Projections, Funding Requirement
Marketing, Financial Projections, Mgmt Team's Birthdays
Executive summary, Market, Product, Management, Holidays

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