Why do some entrepreneurs create a business plan?

Business Planning and Strategy Concepts

Interactive Video
•
Business, Professional Development, Life Skills
•
9th - 12th Grade
•
Hard

Ethan Morris
FREE Resource
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
To avoid taxes
To hire more employees
To impress their friends
To secure a bank loan or equity capital
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is one way a business plan can help reduce expenses?
By changing vendors
By increasing employee salaries
By hiring more staff
By expanding office space
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What should you include in your budgeting process?
A list of competitors
A spreadsheet of last year's expenses and forecasted expenditures
A detailed marketing plan
A list of potential investors
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How can employees contribute to the business planning process?
By suggesting ideas to save money or increase revenue
By attending more meetings
By taking more breaks
By working overtime
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What should you do to uncover new revenue opportunities?
Cut down on product quality
Brainstorm with your management team
Reduce marketing efforts
Ignore market trends
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is it important to understand how your products are priced compared to competitors?
To reduce product quality
To increase prices arbitrarily
To avoid marketing
To ensure competitive pricing
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How can you understand customer perceptions of your products?
By guessing
By asking them directly
By ignoring feedback
By copying competitors
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