Business Plan

Question 1

It is the road map of the entrepreneurs that will usher them to success

Answer 1

Business Plan

Question 2

As written outline that evaluates all aspects of the economic viability of a business venture, including descriptions and analysis of its business prospects

Answer 2

Business Plan

Question 3

It must provide a systematic assessment of all the factors critical to the business purpose and goal

Answer 3

Business plan

Question 4

It typically requires a business plan from an entrepreneur who is securing a loan for business startup or expansion purposes

Answer 4

Banks and investment firms

Question 5

DIT meaning

Answer 5

Department of Trade industry

Question 6

DIT suggests to include;

Answer 6

Executive marketing
Marketing plan
Production plan
Organization and management
Financial plan

Question 7

It includes a brief description of the company and the contributions of its business or projects to the company.

Answer 7

Executive summary

Question 8

It includes a short profile of the employer and its key employees

Answer 8

Executive summary

Question 9

There is NO standard format in writing an?

Answer 9

Executive summary

Question 10

A rule of thumb suggest that the executive summary should be how many pages long?

Answer 10

No more than 2 pages long

Question 11

It contains the product or service description and a comparative analysis

Answer 11

Marketing plan

Question 12

It describes the marketing strategy including sales forecasts, pricing methodology, advertising measures and more

Answer 12

Marketing plan

Question 13

It states that it will be provided and sold to the market

Answer 13

Production plan

Question 14

Describes the benefits of the products or services, and discusses the production process, factory and equipment, raw materials, cost and availability of labor n more

Answer 14

Production plan

Question 15

It states the form of business (e.g. sole, proprietorship, partnership or corporation)

Answer 15

Organization and management plan

Question 16

It details the amount of funding needed to finance the project or business

Answer 16

Financial plan

Question 17

It discusses the financial analysis and outlook if the business including the project cost, income and cash flow statements, balance sheet and more

Answer 17

Financial plan

Question 18

Is basically the second section coming after the executive summary

Answer 18

Company description

Question 19

It provides an overview of the key aspects of the business such as its vision and mission, objectives, nature and scope of the business, product and services and other highlights

Answer 19

Company description

Question 20

Elements of company description

Answer 20

Company name
Type of business structure
Management team
Location
Brief history
Vision and mission
Business objectives

Question 21

The registered or official name of the business

Answer 21

Company name

Question 22

It is either a sole, proprietorship, partnership or corporation

Answer 22

Type of business structure

Question 23

The names of the owners and key people behind the company

Answer 23

Management team

Question 24

The exact address of the company

Answer 24

Location

Question 25

The origin and inspiration of the business

Answer 25

Brief history

Question 26

A clear statement that represents the goals, aspirations, and purpose of the company

Answer 26

Vision and mission statement

Question 27

An outline of the company wants to accomplish in

Answer 27

Business objectives

Question 28

This portion of the business plan takes into account the opportunities and threats facing the company

Answer 28

Industrial analysis

Question 29

This will enable the reader to understand the position of the company relative to other companies in the industry

Answer 29

Industrial analysis

Question 30

What are the 3 major elements of industrial analysis

Answer 30

Underlying forces Overall attractiveness Critical factors

Question 31

It summarize information about the business organizations

Answer 31

Organizational structure

Question 32

It outlines how certain activities are implemented in order to achieve the goals of an organization

Answer 32

Organization structure

Question 33

This section of the business plan covers 2 main areas

Answer 33

Organization Team management

Question 34

It discuss the business structure, whether a business is a sole proprietorship, partnership, or corporation, and the people involved in the management of the business

Answer 34

Organization

Question 35

It discusses each key person’s roles, functions, and expertise

Answer 35

Management team

Question 36

It would include an organizational chart to describe key responsibilities and accountability in the company

Answer 36

Organizational structure

Question 37

It builds upon the industry section of the business plan

Answer 37

Marketing strategy

Question 38

It describes the foundation which a company’s marketing activities and sale operations will rest

Answer 38

Marketing strategy

Question 39

It also discusses the company’s value proposition and marketing mix, also known as the “4ps in marketing”

Answer 39

Marketing strategy

Question 40

Their objectives aims to show investors and other stakeholders that the company knows its market and that the market is large enough to sustain the business

Answer 40

Marketing strategy

Question 41

It clearly outlines how the company will find new customers, how the business fits into the market and how the product or service will be priced or promoted

Answer 41

Marketing strategy

Question 42

This section is to present how the business retains and attracts the customers; and highlights a niche or segment in the market that a company can exploit

Answer 42

Marketing strategy

Question 43

There is no format in writing a

Answer 43

Marketing strategy

Question 44

Is an important section of any business plan since it will convince the reader that the business is stable and financially successful

Answer 44

Financial projections

Question 45

It helps entrepreneurs to evaluate the business, win over investo secure bank loans, or produce a long-term growth strategy for the business.

Answer 45

Financial projection

Question 46

are a forecast of future profits and expenses. They provide a prospective financial outlook for the business, which include forecasted income statements, balance sheets, and cash flow statements.

Answer 46

Financial projection

Question 47

A rule of thumb is to prepare three-year to five-year projections of the financial statements

Answer 47

Financial projection

Question 48

It would help to include comparative analysis, financial analysis, and graphs and charts for easy reference and clarity of change

Answer 48

Financial projection

Question 49

Entrepreneurs must be specific in making their projections, making sure t revenue forecasts match the growth strategy or funding requirements of business.

Answer 49

Financial projection