Question 1

What is commonly the last section to be written in a business plan?

Accepted Answer

Executive Summary

Answer

Environment Analysis

Answer

Introduction

Answer

Business Description

Question 2

What is the most important part of a business plan?

Accepted Answer

Executive Summary

Answer

Table of Contents

Answer

Background

Answer

Financial Plan

Question 3

If your executive summary exceeds three pages, what is likely to happen?

Accepted Answer

It will most likely not be read.

Answer

It will be thoroughly reviewed

Answer

It will be shortened by the reader

Answer

It will be accepted without question

Question 4

What tool do entrepreneurs use to evaluate their position in the market against competitors?

Accepted Answer

Positioning map

Answer

Business Strategy

Answer

Business model

Answer

Business Description

Question 5

What analysis must be conducted to determine if there are consumers or buyers for a product?

Accepted Answer

Industry analysis

Answer

Societal Analysis

Answer

Global Analysis

Answer

Consumer and competitor analysis

Question 6

What should the executive summary include regarding the business?

Accepted Answer

Vision, mission, goals, and objectives

Answer

Market analysis

Answer

Financial forecasts

Answer

Employee details

Question 7

What section of the business plan describes the external and internal factors affecting performance?

Accepted Answer

Environmental analysis

Answer

Executive Summary

Answer

Market Strategy

Answer

Business Description

Question 8

Which of the following is a variable in societal analysis?

Accepted Answer

Technological forces

Answer

Company culture

Answer

Profit margins

Answer

Product specifications

Question 9

What is the purpose of wealth improvement approaches in a business plan?

Accepted Answer

To maintain a competitive advantage and improve market share

Answer

To hire more employees

Answer

To increase advertising

Answer

To expand product lines

Question 10

What are the three major sections of environmental analysis?

Accepted Answer

Global Analysis, Societal Analysis, Industry Analysis

Answer

Financial Analysis, Operational Analysis, Marketing Analysis

Answer

Product Analysis, Customer Analysis, Sales Analysis

Answer

Market Analysis, Competitive Analysis, Risk Analysis

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