ACTIVITY 1.3 - RECALL PARTS OF BUSINESS PLAN

What component of business plan that need to determine the fiscal needs/costs/amount of money of the business and the sources of needed funds?

• Financial Plan

• Production Plan

• Environment

• Location

What term that refers to the traits/characteristics that you want to employ in your business?

• Vision

• Mission

• Values

• Dreams

What term that is seen as a dream/outlook of a business?

• Vision

• Mission

• Values

• Dream

What term that refers on how to attain the dream?

• Vision

• Mission

• Values

• Dream

What document that contains a written summary of the proposed venture, its operational and financial details of its managerial skills and abilities?

• Concept Paper

• Business Plan

• Project Proposal

• Feasibility Study

Why do you need a business plan?

• To explain your idea

• the ability to get financing.

• it's a road map that sets objectives and goals for the business.

• To help reduce the risk of business failure.

• All of the above.

Complete the sentence: A business plan...

• is useful once your business is operational but not much help during the startup phase

• is not usually needed once the business is up and running

• can serve as a tool for helping a business during the startup phase and for managing your business once it is up and running.

A brief account of the key points contained in a business plan

• Executive Summary
• Company Description
• Mission Statement
• Vision Statement

Who will run the company as well as management’s philosophy

• Organizational Plan
• Operational Plan
• Executive Summary
• Company Description

Refers to what you are selling, including all of the features, advantages and benefits that your customers can get.

• Price

• Packaging

• Promotion

• Product