
5.3 Importance of a business plan
Quiz
•
Business
•
10th - 11th Grade
•
Medium
Used 21+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Define what is meant by a business plan
A written document that details an idea and how a business aims to achieve its objectives. Usually created when a new business is forming or when a business is applying for finance.
A financial statement that summarizes the revenues, costs, and expenses incurred during a specified period, usually a fiscal quarter or year.
2.
MULTIPLE SELECT QUESTION
1 min • 1 pt
Why is a business plan needed?
Identify 3 reasons
To obtain finance
Help identify potential problems .e.g financial shortages
Measures progress towards goals e.g. sales forecasts
Generate revenue for a brand
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Identify what information is likely to be included about the business idea
The goals of the business, usually set as S.M.A.R.T and how it will achieve them.
Information about its customer, including customer profiling
Outline of costs to include: staff, stock, buildings, insurance etc...
What product or service the business will provide
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Identify what information is likely to be included about a businesses target market
The goals of the business, usually set as S.M.A.R.T and how it will achieve them.
Information about its customer, including customer profiling
Outline of costs to include: staff, stock, buildings, insurance etc...
What product or service the business will provide
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Identify what information is likely to be included about a businesses aims and objectives
The goals of the business, usually set as S.M.A.R.T and how it will achieve them.
Information about its customer, including customer profiling
Outline of costs to include: staff, stock, buildings, insurance etc...
What product or service the business will provide
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Identify what information is likely to be included about a businesses costs
The goals of the business, usually set as S.M.A.R.T and how it will achieve them.
Information about its customer, including customer profiling
Costs arising from: staff , stock, buildings, insurance etc...
What product or service the business will provide
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Identify what information is likely to be included about a businesses source of finance
Where finance has been obtained, the amount and term i.e. NatWest £35,0000 secured over 5 years at £660p/m
Information about its customer, including customer profiling
Costs arising from: staff , stock, buildings, insurance etc...
What product or service the business will provide
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