Entrepreneurship I Recap Chapter Ten

Planning is the future you envision for your business.

• TRUE

• FALSE

Planning Starts with a Mission

• TRUE

• FALSE

Plans take ONE form

• TRUE

• FALSE

Business Model Canvas (BMC)

• A brief document outlining the company overview

• Focuses on the size of the market, the suppliers, distributors, and so on.

• Useful for identifying gaps in the business idea

A Feasibility Study

• Useful for identifying gaps in the business idea.

• Tests the possibilities of an initial idea

• A brief document outlining the company overview

The Pitch Deck

• Has replaced the formal business plan in most venues

• Identifies the essentials to make the business work

• Useful for identifying gaps in the business idea

Questions to Ask During Planning: Who is On Your Team and What Do They Bring to the Table?

• TRUE

• FALSE

The business plan takes the shortest time to create

• TRUE

• FALSE

Business plan needs to be tailored to fit customer needs

• TRUE

• FALSE

When Writing Any Type of Plan it is okay to use visuals

• TRUE

• FALSE