McGraw Hill 5.2 Business Plan Quiz

A business plan is a written description of a new business venture that describes all _____ of the business.

• aspects

• goals

• products

• strategies

A business plan must follow _____ .

• a logical format

• an executive summary

• industry standards

• SBA guidelines

The length of an executive summary should be limited to _____ .

• one paragraph

• two paragraphs

• one page

• two pages

In a business plan, the size, scope, and type of business is explained in the _____ .

• company description

• product and service plan

• vision and mission statements

• marketing plan

Company values and beliefs are established in the _____ .

• executive summary

• mission statement

• organizational plan

• vision statement

The business plan section that presents research about the company's customer profile is called the _____ .

• competitive analysis

• industry overview

• market analysis

• marketing plan

The business plan section that identifies likely risks to the business is called the _____ .

• back-up plan

• contingency plan

• emergency plan

• risk analysis

The business plan section that identifies trends and growth within the industry is called the industry _____.

• analysis

• overview

• plan

• statement

The business plan section that includes demographic data about the target market and business location is called the _____ .

• company description

• market analysis

• marketing plan

• product and service plan

Before starting a particular business, an entrepreneur needs to determine if there is enough _____ for the product.

• customer base

• demand

• mission

• need