Business Plan Questions with Answers
Business Planning Basics - correct answers-The business plan is a written document prepared by the
entrepreneur that describes all the relevant internal and external elements and strategies for starting a
new venture.
What is a Business Plan? - correct answers--A written document
-Describes what a new business plans to accomplish and how it plans to accomplish it
The Business Plan can serve multiple purposes - correct answers--Inside the firm: help company develop
"road map" for executing strategies and plans
-Outside the firm: introduces potential investors to business opportunity the firm is pursuing (What and
How)
Value of Business Plan - Why plan? - correct answers--The business plan may be read by employees,
investors, bankers, venture capitalists, suppliers customers and local government officials
-Helps to determine the viability of ventures
-It provides guidance to the entrepreneur
-It is a must to obtain external funding
There are three perspectives should be considered in preparing the plan : - correct answers--Perspective
of the entrepreneur
-Investor's perspective
-Market perspective
Business plan-- provides everything need to known about venture's distinctive nature - correct answers--
Executive Summary
-Business Opportunity Explained in Detail
-Industry/Competitors
-Target Market Selection/ Business Entry Strategy/Justification
-Entrepreneur(s)
-Team/ Organization Description
-Financials - Current and 5-year Pro Forma
-Exit Strategy
-Critical Risks
-Appendix
Business Planning Basics - correct answers-The business plan is a written document prepared by the
entrepreneur that describes all the relevant internal and external elements and strategies for starting a
new venture.
What is a Business Plan? - correct answers--A written document
-Describes what a new business plans to accomplish and how it plans to accomplish it
The Business Plan can serve multiple purposes - correct answers--Inside the firm: help company develop
"road map" for executing strategies and plans
-Outside the firm: introduces potential investors to business opportunity the firm is pursuing (What and
How)
Value of Business Plan - Why plan? - correct answers--The business plan may be read by employees,
investors, bankers, venture capitalists, suppliers customers and local government officials
-Helps to determine the viability of ventures
-It provides guidance to the entrepreneur
-It is a must to obtain external funding
There are three perspectives should be considered in preparing the plan : - correct answers--Perspective
of the entrepreneur
-Investor's perspective
-Market perspective
Business plan-- provides everything need to known about venture's distinctive nature - correct answers--
Executive Summary
-Business Opportunity Explained in Detail
-Industry/Competitors
-Target Market Selection/ Business Entry Strategy/Justification
-Entrepreneur(s)
-Team/ Organization Description
-Financials - Current and 5-year Pro Forma
-Exit Strategy
-Critical Risks
-Appendix
