Business Plan

Question 1

Describes in detail how a business plan will operate to attain its goals

Answer 1

Business plan

Question 2

Second section coming after the executive summary

Answer 2

Company description

Question 3

Is basically the second section coming after the executive summary. 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 3

Company description

Question 4

The registered or official name of the business.

Answer 4

Company

Question 5

It is either a sole proprietorship, partnership or corporation.

Answer 5

Type of Business Structure

Question 6

The names of the owners and key people behind the company.

Answer 6

Management Team

Question 7

The exact address of the company.

Answer 7

Location

Question 8

The origin and inspiration behind the business.

Answer 8

Brief History.

Question 9

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

Answer 9

Vision and Mission Statement

Question 10

An outline of what the company wants to accomplish in the immediate future.

Answer 10

Business Objectives

Question 11

A list of products and services to be offered and to whom.

Answer 11

Product and Service Line

Question 12

some elements that are common to most company descriptions:

Answer 12

• COMPANY NAME

• TYPE OF BUSINESS STRUCTURE

• MANAGEMENT TEAM

• LOCATION

• BRIEF HISTORY

• VISION AND MISSION STATEMENT

• BUSINESS OBJECTIVES

• PRODUCT AND SERVICE LINE

Question 13

Discusses each key person’s roles, functions, and expertise

Answer 13

MANAGEMENT TEAM

Question 14

A method used to monitor and analyze external factors in order to identify their opportunities and challenges, as well as to understand the competition and market dynamics

Answer 14

ENVIRONMENTAL SCANNING

Question 15

Ongoing process of considering, evaluating, and pursuing profit-generating activities in the market place

Answer 15

OPPORTUNITY SEEKING

Question 16

• An individual personally owns the business
• Has no separate legal personality from the owner

Answer 16

SOLE PROPRIETORSHIP

Question 17

Dynamic roadmap that specifies how the business will allocate the resources to support business activities

Answer 17

ORGANIZATIONAL STRATEGY

Question 18

• Refers to the value a company promises to provide to its customers
• Summarizes how the benefit of the company’s product or service will be delivered, experienced, or acquired

Answer 18

VALUE PROPOSITION

Question 19

• Task of recording and keeping track of day-to-day financial transactions of a business
• Involves making entries to book of accounts using the debit and credit system

Answer 19

BOOKKEEPING

Question 20

Refers to general increase of price levels

Answer 20

INFLATION

Question 21

Basic step in discovering an unmet or underserved market need or gaining insight to a
particular field

Answer 21

SURVEY

Question 22

TYPES OF SURVEY

Answer 22

-ONLINE SURVEY
-TELEPHONE SURVEY
-QUALITATIVE SURVEY
-PAPER SURVEY

Question 23

easiest and cheapest technique

Answer 23

ONLINE SURVEY

Question 24

provide representative results as the contacted individuals will become included in the sample. Expensive and takes a long time

Answer 24

TELEPHONE SURVEY

Question 25

involves focused group discussions and in-depth interviews, and often ask open-ended questions

Answer 25

QUALITATIVE SURVEY

Question 26

use traditional pen and paper approach

Answer 26

PAPER SURVEY

Question 27

TYPES OF BUSINESS ORGANIZATIONS

Answer 27

• SOLE PROPRIETORSHIP • PARTNERSHIP • COOPERATIVE

Question 28

is the most basic type of business organization in the country, in which, an individual personally owns the business. It has no separate legal personality from its owner; thus, the assets and liabilities of the business are also the assets and liabilities of the owner.

Answer 28

SOLE PROPRIETORSHIP

Question 29

is formed when two or more persons bind themselves to contribute money, property, or industry to a common fund, with the intention of dividing the profits and ownership among themselves.

Answer 29

Partnership

Question 30

are called shareholders, Who are responsible for the debts of the corporation only up to the extent of their capital contribution.

Answer 30

Corporation

Question 31

STEPS ON HOW TO GENERATE A BRAND (6 phases for strategic brand development)

Answer 31

BRAND TEAM DEVELOPMENT CONDUCT BUSINESS ANALYSIS CONDUCT AUDIENCE ANALYSIS DEVELOP A BRAND POSITIONING CREATE A CONSISTENT MESSAGING AND VISUAL STYLE LAUNCHING AND EVALUATING THE BRAND

Question 32

takes care of the brand

Answer 32

BRAND TEAM DEVELOPMENT

Question 33

discover brand solutions for customers

Answer 33

CONDUCT BUSINESS ANALYSIS

Question 34

understand how brand design motivates their target audience

Answer 34

CONDUCT AUDIENCE ANALYSIS

Question 35

organization's uniqueness from its competitors

Answer 35

DEVELOP A BRAND POSITIONING

Question 36

communicate the brand position

Answer 36

CREATE A CONSISTENT MESSAGING AND VISUAL STYLE

Question 37

helps companies to be aware of subtle changes in the competitive environment

Answer 37

LAUNCHING AND EVALUATING THE BRAND

Question 38

ALLOCATION OF RESOURCES

Answer 38

• PHYSICAL • INTANGIBLE • HUMAN • FINANCIAL

Question 39

TYPES OF ASSETS

Answer 39

• CURRENT • NON-CURRENT