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Business plans

Quiz by JK Hobson

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10 questions
Show answers
  • Q1
    What is a business plan?
    A tool for managing employee performance.
    A marketing campaign plan.
    A document for securing business loans.
    A document that outlines the objectives, strategies, and financial forecast of a business.
    A business meeting agenda.
    30s
  • Q2
    What is the purpose of a market analysis in a business plan?
    To determine the organizational structure of the business.
    To establish financial projections.
    To assess the target market, competition, and market trends.
    To identify potential business partners.
    30s
  • Q3
    What is the purpose of a mission statement in a business plan?
    To evaluate the market potential of the business.
    To define the purpose and overall goals of the business.
    To determine the marketing strategies of the business.
    To outline the financial projections of the business.
    To identify potential risks and challenges.
    30s
  • Q4
    What is a target market in a business plan?
    The financial goal set by the business.
    The total market size of the industry.
    A specific group of customers that the business aims to serve.
    The geographic location of the business.
    The product or service offered by the business.
    30s
  • Q5
    What is a unique selling point?
    The price you assign to a new product.
    The thing that makes your product or service better than your competitors.
    The moment when the company starts making profit.
    When you buy tip of a unicorn's horn.
    30s
  • Q6
    What is "added value."
    Sales tax
    How a business makes its profit.
    The extra money a customer has to may when something isn't on sale.
    The amount of money a customer saves when something is on sale .
    30s
  • Q7
    According to our past lesson, what is the definition of "insanity"?
    It's a psychological term.
    Being of sound mind and psyche.
    Doing the same thing over and over and expecting a different result.
    Crazy Pants.
    30s
  • Q8
    What is "opportunity cost"?
    The total cost incurred in seizing an opportunity.
    The actual cost of an opportunity when pursued.
    The cost of the best alternative given up when a decision is made.
    The amount of money it costs to take a chance.
    30s
  • Q9
    "The enterprise that does not ________________ inevitably ages and declines. And in a period of rapid change as the present... the decline will be fast."​ - Peter F. Drucker
    use ChatGPT
    innovate
    invest
    do market research
    30s
  • Q10
    Where did Mr J grow up?
    Puerto Rico
    New York City
    Mỹ Tho (America Tho)
    Los Angeles, CA
    30s

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