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BA3305 Entre – Chp 8 – Flashcards

Jamie Hutchinson
7 July 2022
question
A(n) _____ plan is a document designed to detail the major characteristics of a firm—its product or service, its industry, its market, its manner of operating and its financial outcomes with an emphasis on the firm's present and future. A. screening B. informational C. invention D. business
answer
D. business
question
The extent to which a small business is taken for granted, accepted, or treated as viable by organizations or people outside the small business is referred to as _____. A. narrowcasting B. external legitimacy C. test marketing D. internal understanding
answer
B. external legitimacy
question
_____ is referred to as the extent to which employees, investors, and family members involved in the business know the business's purposes and operations. A. Internal understanding B. Narrowcasting C. Test marketing D. External legitimacy
answer
A. Internal understanding
question
Amounts and schedules for returns, stability of firm, funds use, and investment are most likely to be the major business plan concerns for _____. A. joint partner ventures B. silent partners C. government agencies D. family and friend investors
answer
D. family and friend investors
question
Which of the following is most likely to be a major business plan concern for bankers? A. Compliance with regulations and laws B. Intellectual property protection C. Asset or collateral base D. Monitoring compliance
answer
C. Asset or collateral base
question
Service or product quality is most likely to be crucial in a business plan for _____. A. bankers B. potential customers C. joint venture partners D. angel investors
answer
B. potential customers
question
A law firm needs to present a business plan to government officials. Which of the following is most likely to be expected by the officials in the business plan? A. High growth rate B. Compliance with regulations and laws C. Intellectual property protection D. Competitive advantage
answer
B. Compliance with regulations and laws
question
In Connie's business plan, which of the following components is most likely to be of interest to Mr. Johnson? A. Cash flow and cash cycle B. Growth rate C. Competitive advantage D. Amounts and schedules for returns
answer
A. Cash flow and cash cycle
question
If Connie gets her family and friends involved as investors, which of the following is most likely to be their concern? A. Cash flow and cash cycle B. Intellectual property protection C. Monitoring compliance D. Amounts and schedules for returns
answer
D. Amounts and schedules for returns
question
Which of the following statements is true of business plans? A. Firms without a business plan are less likely to close down than firms with plans. B. External legitimacy for a firm is best established by creating business plans. C. Typically, the higher-performing firms in any industry tend to be those who do not have any business plan. D. Having a business plan guarantees higher profits.
answer
B. External legitimacy for a firm is best established by creating business plans.
question
Which of the following is the shortest business planning presentation in terms of the length of description? A. Mission statement B. Vision statement C. Executive summary D. Elevator pitch
answer
B. Vision statement
question
A(n) _____ is a very simple 5-10 word sentence or tagline that expresses the fundamental idea or goal of the firm. A. vision statement B. executive summary C. elevator pitch D. mission statement
answer
A. vision statement
question
Which of the following statements is true of a vision statement? A. An overview of a business and its immediate goals form a vision statement. B. A vision statement describes a firm's goal and its competitive advantages. C. A tagline or a slogan is a good way to present vision statements. D. A vision statement gives more detail about a business than an executive summary.
answer
C. A tagline or a slogan is a good way to present vision statements.
question
Which of the following terms refers to a paragraph that describes the firm's goals and competitive advantages? A. Tagline B. Executive summary C. Mission statement D. Elevator pitch
answer
C. Mission statement
question
A(n) _____ is an action-oriented description of a business designed to sell the idea of the business to another. A. vision statement B. executive summary C. mission statement D. elevator pitch
answer
D. elevator pitch
question
Which of the following statements is true of an elevator pitch? A. It is shorter than a vision statement or tagline. B. Its goal is to sell the idea of a business to another. C. It does not sound like a sales pitch. D. It is a summary of the business, its business models, and immediate goals.
answer
B. Its goal is to sell the idea of a business to another.
question
Which of the following components gives an overview of the business, its business model, market, expectations, and immediate goals? A. Vision statement B. Executive summary C. Mission statement D. Elevator pitch
answer
B. Executive summary
question
Which of the following statements is true of an executive summary? A. It is written in an informal style for investors and lawyers. B. It gives fewer details about the business than an elevator pitch. C. It is the single most widely distributed written description of a business. D. It is typically put at the end of a business plan.
answer
C. It is the single most widely distributed written description of a business.
question
Which of the following is NOT a topic addressed in the executive summary? A. Management B. Competitive advantages C. Employee code of conduct D. Finances
answer
C. Employee code of conduct
question
Which of the following is true regarding the components of a business plan? A. An executive summary gives more detail about the business than the vision or mission statements or elevator pitch. B. A vision statement is a paragraph that describes the firm's goals and competitive advantages. C. A mission statement is a slogan that captures the key idea of a business, its service, product, or customer. D. An elevator pitch is a simple tagline that expresses the fundamental idea or goal of a firm.
answer
A. An executive summary gives more detail about the business than the vision or mission statements or elevator pitch.
question
Which of the following statements is true regarding the 5-M model? A. The five M's of the model are mantra, mission, measures, marketing, and mechanics. B. Mission statements are the activities which would make a business successful over a period of time. C. Measures are business goals defined in terms of sales, market share, employment, locations, profits, growth, etc. D. Mechanics indicate the firm's major business goals, which can be stated quantitatively or qualitatively.
answer
C. Measures are business goals defined in terms of sales, market share, employment, locations, profits, growth, etc.
question
Which of the following is a major component of a classic business plan? A. Invention plan B. Proof-of-concept Web site C. The financials D. Private placement memorandum
answer
C. The financials
question
Which of the following sections of a classic business plan mentions the legal and hierarchical structures, key personnel, related service providers, and business location? A. The market B. The organization C. The appendixes D. The financials
answer
B. The organization
question
Critical risks, cash flow projection, balance sheet, and start-up costs are included in the _____ section of a classic business plan. A. title page B. market C. financials D. appendixes
answer
C. financials
question
In the _____ section of a classic business plan, sales plan, competitive plan, and growth plan are discussed. A. company B. organization C. financials D. market
answer
D. market
question
A(n) _____ is a one-page document on letterhead that introduces the business plan and owner to the recipient and indicates why the recipient is being asked to read the plan. A. executive summary B. cover letter C. appendix D. title page
answer
B. cover letter
question
Which of the following terms indicates that a product or service is being kept as a trade secret or is protected legally using patents, trademarks, copyright, or service mark? A. External legitimacy B. Proprietary technology C. Test marketing D. Corporate veil
answer
B. Proprietary technology
question
Which of the following is most likely to be included in the title page of a classic business plan? A. Proprietary statement B. Financial information C. Sales plan D. Employee code of conduct
answer
A. Proprietary statement
question
Which of the following statements is true of the company section of a business plan? A. The overall description of the business financials forms the core part of this section. B. The product/service subsection mentions any protection through a proprietary technology. C. The company background subsection includes information about the pilot sales efforts and the floor plans. D. The tagline and elevator pitch of the business form the subsections of company description.
answer
B. The product/service subsection mentions any protection through a proprietary technology.
question
The market section of a business plan primarily focuses on _____. A. employees B. joint venture partners C. government agencies D. customers
answer
D. customers
question
A good marketing strategy is most likely to focus on: A. the legal and organization structure of the firm. B. the sales plan that shows specific ways to secure sales from customers. C. the financial reports and projections. D. the vision and mission statement of the business.
answer
B. the sales plan that shows specific ways to secure sales from customers.
question
Which of the following is an example of a generic marketing strategy? A. Formula facilities B. Craftsmanship C. Customization D. Differentiation
answer
D. Differentiation
question
Craftsmanship and customization are examples of: A. a fragmented industry strategy. B. a generic strategy. C. a supra-strategy. D. a risk strategy.
answer
C. a supra-strategy.
question
_____ involves introducing a product to potential customers and taking orders for later delivery. A. Preselling B. Test marketing C. Research and Development D. Parallel marketing
answer
A. Preselling
question
Which of the following parts of a business plan is focused on creating new products or services and preparing new technologies, ideas, products or services for the firm's market? A. Preselling B. Research and Development C. Test marketing D. Proprietary technology
answer
B. Research and Development
question
Which of the following statements is true of the market section of a business plan? A. The sales plan subsection of this section addresses research and development strategies. B. Company background and industry description form the primary focus of this section. C. The marketing strategy subsection of this section focuses on short-term tactical plans. D. The growth plan talks about markets to be pursued and ways to leverage the firm's assets.
answer
D. The growth plan talks about markets to be pursued and ways to leverage the firm's assets.
question
The sales plan of a marketing strategy focuses on: A. the longer-term partnerships to be sought. B. the new markets to be pursued. C. the ways to leverage a firm's assets. D. the day-to-day specifics of how sales are achieved.
answer
D. the day-to-day specifics of how sales are achieved.
question
Which of the following statements is true of the financials section of a business plan? A. A typical financials section for investors has two subsections: organizational structure and R& D plans. B. The critical risks subsection addresses existing investments and the current ownership situation. C. The assumptions subsection explains computations, inclusion or exclusion of items, and any other special considerations. D. The deal subsection mentions the parts of the business that exposes the firm to loss.
answer
C. The assumptions subsection explains computations, inclusion or exclusion of items, and any other special considerations
question
What is the goal of appendixes? A. To inform customers and partners about a firm and its products B. To establish marketing strategies and identify major competitors C. To provide supporting information that helps detail the key selling points of a plan D. To explain the growth plan and competitive strategies
answer
C. To provide supporting information that helps detail the key selling points of a plan
question
EnviroAir Inc. was featured in newspapers for its contribution toward sustainable environment. Also, the company distributed brochures to prospective customers to inform them about the company products. Which of the following sections should carry the press release and brochures in EnviroAir's business plan? A. The appendixes B. The organization C. The market D. The financials
answer
A. The appendixes
question
When a product or service is new to the industry or is itself creating a new industry, it is referred to as a(n) _____ business. A. entry-level B. preselling C. pioneering D. test
answer
C. pioneering
question
When a product or service is sold in a limited area, for a limited time, it is referred to as _____. A. a pioneering business B. test marketing C. preselling D. parallel marketing
answer
B. test marketing
question
When your product or service already exists but your firm is the first of its kind in your market, it is considered a(n) _____ business. A. entry-level B. pioneering C. substitutive D. new entrant
answer
D. new entrant
question
A(n) _____ plan gives the basic overview of a firm and a detailed look at the financials. A. screening B. operational C. competitive D. invention
answer
A. screening
question
Which of the following business plans is also called a mini-plan? A. Invention plan B. Concept plan C. Screening plan D. Operational plan
answer
C. Screening plan
question
Which of the following types of plans describes a company and its product or service to potential customers or suppliers? A. Screening plan B. Informational plan C. Operational plan D. Invention plan
answer
B. Informational plan
question
Which of the following terms refers to a special form of informational plan posted on the Internet that provides information or demonstration of a product or service? A. Proof-of-concept Web site B. Growth plan C. Sales plan D. Private placement memorandum
answer
A. Proof-of-concept Web site
question
Which of the following is a type of informational plan that solicits information on customer interests? A. Invention plan B. Proof-of-concept Web site C. Private placement memorandum D. Operational plan
answer
B. Proof-of-concept Web site
question
Which of the following plans is most likely to be useful for demonstrating a new technology or service? A. An invention plan B. A private placement memo C. A proof-of-concept Web site D. An operational plan
answer
C. A proof-of-concept Web site
question
A key employee/partner plan is also called a _____ plan. A. summary B. sales C. mini D. growth
answer
A. summary
question
A business plan that provides information to potential licensees is referred to as a(n) _____ plan. A. screening B. invention C. operational D. concept
answer
B. invention
question
_____ plans are designed to be used internally for management purposes. A. Summary B. Informational C. Operational D. Invention
answer
C. Operational
question
Which of the following is a specialized legal form of business plan crafted by lawyers for the purpose of soliciting formal investments? A. Key employee/partner plan B. Private placement memorandum C. Invention plan D. Operational plan
answer
B. Private placement memorandum
question
Which of the following is true of a private placement memo? A. It provides information to potential licensees. B. It is a complex legal document and should be drafted by a lawyer. C. It is a special form of informational plan posted on the Internet. D. It is designed to be used internally for management purposes.
answer
B. It is a complex legal document and should be drafted by a lawyer
question
Which of the following statements is true regarding special-purpose plans? A. PPMs focus on the market and operationalization of a new invention. B. Operational plans should be drafted by lawyers. C. An invention plan is designed to be used internally for management purposes. D. A proof-of-concept Web site asks viewers to provide feedback on the concept.
answer
D. A proof-of-concept Web site asks viewers to provide feedback on the concept.
question
A(n) _____ is a part of a business or business plan that exposes the firm to any kind of loss. A. risk B. achievement C. credit D. opportunity
answer
A. risk
question
Which of the following is a critical risk to a business? A. Direct customer connection B. Surplus industry experience C. Overlooked competition D. Adequate payback
answer
C. Overlooked competition
question
The _____ rate is the percentage of people who buy out of the total population of people approached for the sales of a product or service. A. base B. hit C. growth D. peak
answer
B. hit
question
Since the café is Connie's first business venture, which of the following risks is most likely to cause Mr. Johnson to evaluate her business plan negatively? A. Uncertain sales B. Experience deficit C. Overlooked competition D. Inadequate payback
answer
B. Experience deficit
question
Which of the following statements is true of a business plan presentation? A. Typically, a business plan presentation does not follow the content of a business plan. B. The content of a business plan presentation remains the same for different audiences. C. Handouts are mailed or distributed when the business plan changes frequently. D. Listeners check presentations for the content and not for the professionalism and passion of the presenter.
answer
C. Handouts are mailed or distributed when the business plan changes frequently.
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question
A(n) _____ plan is a document designed to detail the major characteristics of a firm—its product or service, its industry, its market, its manner of operating and its financial outcomes with an emphasis on the firm's present and future. A. screening B. informational C. invention D. business
answer
D. business
question
The extent to which a small business is taken for granted, accepted, or treated as viable by organizations or people outside the small business is referred to as _____. A. narrowcasting B. external legitimacy C. test marketing D. internal understanding
answer
B. external legitimacy
question
_____ is referred to as the extent to which employees, investors, and family members involved in the business know the business's purposes and operations. A. Internal understanding B. Narrowcasting C. Test marketing D. External legitimacy
answer
A. Internal understanding
question
Amounts and schedules for returns, stability of firm, funds use, and investment are most likely to be the major business plan concerns for _____. A. joint partner ventures B. silent partners C. government agencies D. family and friend investors
answer
D. family and friend investors
question
Which of the following is most likely to be a major business plan concern for bankers? A. Compliance with regulations and laws B. Intellectual property protection C. Asset or collateral base D. Monitoring compliance
answer
C. Asset or collateral base
question
Service or product quality is most likely to be crucial in a business plan for _____. A. bankers B. potential customers C. joint venture partners D. angel investors
answer
B. potential customers
question
A law firm needs to present a business plan to government officials. Which of the following is most likely to be expected by the officials in the business plan? A. High growth rate B. Compliance with regulations and laws C. Intellectual property protection D. Competitive advantage
answer
B. Compliance with regulations and laws
question
In Connie's business plan, which of the following components is most likely to be of interest to Mr. Johnson? A. Cash flow and cash cycle B. Growth rate C. Competitive advantage D. Amounts and schedules for returns
answer
A. Cash flow and cash cycle
question
If Connie gets her family and friends involved as investors, which of the following is most likely to be their concern? A. Cash flow and cash cycle B. Intellectual property protection C. Monitoring compliance D. Amounts and schedules for returns
answer
D. Amounts and schedules for returns
question
Which of the following statements is true of business plans? A. Firms without a business plan are less likely to close down than firms with plans. B. External legitimacy for a firm is best established by creating business plans. C. Typically, the higher-performing firms in any industry tend to be those who do not have any business plan. D. Having a business plan guarantees higher profits.
answer
B. External legitimacy for a firm is best established by creating business plans.
question
Which of the following is the shortest business planning presentation in terms of the length of description? A. Mission statement B. Vision statement C. Executive summary D. Elevator pitch
answer
B. Vision statement
question
A(n) _____ is a very simple 5-10 word sentence or tagline that expresses the fundamental idea or goal of the firm. A. vision statement B. executive summary C. elevator pitch D. mission statement
answer
A. vision statement
question
Which of the following statements is true of a vision statement? A. An overview of a business and its immediate goals form a vision statement. B. A vision statement describes a firm's goal and its competitive advantages. C. A tagline or a slogan is a good way to present vision statements. D. A vision statement gives more detail about a business than an executive summary.
answer
C. A tagline or a slogan is a good way to present vision statements.
question
Which of the following terms refers to a paragraph that describes the firm's goals and competitive advantages? A. Tagline B. Executive summary C. Mission statement D. Elevator pitch
answer
C. Mission statement
question
A(n) _____ is an action-oriented description of a business designed to sell the idea of the business to another. A. vision statement B. executive summary C. mission statement D. elevator pitch
answer
D. elevator pitch
question
Which of the following statements is true of an elevator pitch? A. It is shorter than a vision statement or tagline. B. Its goal is to sell the idea of a business to another. C. It does not sound like a sales pitch. D. It is a summary of the business, its business models, and immediate goals.
answer
B. Its goal is to sell the idea of a business to another.
question
Which of the following components gives an overview of the business, its business model, market, expectations, and immediate goals? A. Vision statement B. Executive summary C. Mission statement D. Elevator pitch
answer
B. Executive summary
question
Which of the following statements is true of an executive summary? A. It is written in an informal style for investors and lawyers. B. It gives fewer details about the business than an elevator pitch. C. It is the single most widely distributed written description of a business. D. It is typically put at the end of a business plan.
answer
C. It is the single most widely distributed written description of a business.
question
Which of the following is NOT a topic addressed in the executive summary? A. Management B. Competitive advantages C. Employee code of conduct D. Finances
answer
C. Employee code of conduct
question
Which of the following is true regarding the components of a business plan? A. An executive summary gives more detail about the business than the vision or mission statements or elevator pitch. B. A vision statement is a paragraph that describes the firm's goals and competitive advantages. C. A mission statement is a slogan that captures the key idea of a business, its service, product, or customer. D. An elevator pitch is a simple tagline that expresses the fundamental idea or goal of a firm.
answer
A. An executive summary gives more detail about the business than the vision or mission statements or elevator pitch.
question
Which of the following statements is true regarding the 5-M model? A. The five M's of the model are mantra, mission, measures, marketing, and mechanics. B. Mission statements are the activities which would make a business successful over a period of time. C. Measures are business goals defined in terms of sales, market share, employment, locations, profits, growth, etc. D. Mechanics indicate the firm's major business goals, which can be stated quantitatively or qualitatively.
answer
C. Measures are business goals defined in terms of sales, market share, employment, locations, profits, growth, etc.
question
Which of the following is a major component of a classic business plan? A. Invention plan B. Proof-of-concept Web site C. The financials D. Private placement memorandum
answer
C. The financials
question
Which of the following sections of a classic business plan mentions the legal and hierarchical structures, key personnel, related service providers, and business location? A. The market B. The organization C. The appendixes D. The financials
answer
B. The organization
question
Critical risks, cash flow projection, balance sheet, and start-up costs are included in the _____ section of a classic business plan. A. title page B. market C. financials D. appendixes
answer
C. financials
question
In the _____ section of a classic business plan, sales plan, competitive plan, and growth plan are discussed. A. company B. organization C. financials D. market
answer
D. market
question
A(n) _____ is a one-page document on letterhead that introduces the business plan and owner to the recipient and indicates why the recipient is being asked to read the plan. A. executive summary B. cover letter C. appendix D. title page
answer
B. cover letter
question
Which of the following terms indicates that a product or service is being kept as a trade secret or is protected legally using patents, trademarks, copyright, or service mark? A. External legitimacy B. Proprietary technology C. Test marketing D. Corporate veil
answer
B. Proprietary technology
question
Which of the following is most likely to be included in the title page of a classic business plan? A. Proprietary statement B. Financial information C. Sales plan D. Employee code of conduct
answer
A. Proprietary statement
question
Which of the following statements is true of the company section of a business plan? A. The overall description of the business financials forms the core part of this section. B. The product/service subsection mentions any protection through a proprietary technology. C. The company background subsection includes information about the pilot sales efforts and the floor plans. D. The tagline and elevator pitch of the business form the subsections of company description.
answer
B. The product/service subsection mentions any protection through a proprietary technology.
question
The market section of a business plan primarily focuses on _____. A. employees B. joint venture partners C. government agencies D. customers
answer
D. customers
question
A good marketing strategy is most likely to focus on: A. the legal and organization structure of the firm. B. the sales plan that shows specific ways to secure sales from customers. C. the financial reports and projections. D. the vision and mission statement of the business.
answer
B. the sales plan that shows specific ways to secure sales from customers.
question
Which of the following is an example of a generic marketing strategy? A. Formula facilities B. Craftsmanship C. Customization D. Differentiation
answer
D. Differentiation
question
Craftsmanship and customization are examples of: A. a fragmented industry strategy. B. a generic strategy. C. a supra-strategy. D. a risk strategy.
answer
C. a supra-strategy.
question
_____ involves introducing a product to potential customers and taking orders for later delivery. A. Preselling B. Test marketing C. Research and Development D. Parallel marketing
answer
A. Preselling
question
Which of the following parts of a business plan is focused on creating new products or services and preparing new technologies, ideas, products or services for the firm's market? A. Preselling B. Research and Development C. Test marketing D. Proprietary technology
answer
B. Research and Development
question
Which of the following statements is true of the market section of a business plan? A. The sales plan subsection of this section addresses research and development strategies. B. Company background and industry description form the primary focus of this section. C. The marketing strategy subsection of this section focuses on short-term tactical plans. D. The growth plan talks about markets to be pursued and ways to leverage the firm's assets.
answer
D. The growth plan talks about markets to be pursued and ways to leverage the firm's assets.
question
The sales plan of a marketing strategy focuses on: A. the longer-term partnerships to be sought. B. the new markets to be pursued. C. the ways to leverage a firm's assets. D. the day-to-day specifics of how sales are achieved.
answer
D. the day-to-day specifics of how sales are achieved.
question
Which of the following statements is true of the financials section of a business plan? A. A typical financials section for investors has two subsections: organizational structure and R& D plans. B. The critical risks subsection addresses existing investments and the current ownership situation. C. The assumptions subsection explains computations, inclusion or exclusion of items, and any other special considerations. D. The deal subsection mentions the parts of the business that exposes the firm to loss.
answer
C. The assumptions subsection explains computations, inclusion or exclusion of items, and any other special considerations
question
What is the goal of appendixes? A. To inform customers and partners about a firm and its products B. To establish marketing strategies and identify major competitors C. To provide supporting information that helps detail the key selling points of a plan D. To explain the growth plan and competitive strategies
answer
C. To provide supporting information that helps detail the key selling points of a plan
question
EnviroAir Inc. was featured in newspapers for its contribution toward sustainable environment. Also, the company distributed brochures to prospective customers to inform them about the company products. Which of the following sections should carry the press release and brochures in EnviroAir's business plan? A. The appendixes B. The organization C. The market D. The financials
answer
A. The appendixes
question
When a product or service is new to the industry or is itself creating a new industry, it is referred to as a(n) _____ business. A. entry-level B. preselling C. pioneering D. test
answer
C. pioneering
question
When a product or service is sold in a limited area, for a limited time, it is referred to as _____. A. a pioneering business B. test marketing C. preselling D. parallel marketing
answer
B. test marketing
question
When your product or service already exists but your firm is the first of its kind in your market, it is considered a(n) _____ business. A. entry-level B. pioneering C. substitutive D. new entrant
answer
D. new entrant
question
A(n) _____ plan gives the basic overview of a firm and a detailed look at the financials. A. screening B. operational C. competitive D. invention
answer
A. screening
question
Which of the following business plans is also called a mini-plan? A. Invention plan B. Concept plan C. Screening plan D. Operational plan
answer
C. Screening plan
question
Which of the following types of plans describes a company and its product or service to potential customers or suppliers? A. Screening plan B. Informational plan C. Operational plan D. Invention plan
answer
B. Informational plan
question
Which of the following terms refers to a special form of informational plan posted on the Internet that provides information or demonstration of a product or service? A. Proof-of-concept Web site B. Growth plan C. Sales plan D. Private placement memorandum
answer
A. Proof-of-concept Web site
question
Which of the following is a type of informational plan that solicits information on customer interests? A. Invention plan B. Proof-of-concept Web site C. Private placement memorandum D. Operational plan
answer
B. Proof-of-concept Web site
question
Which of the following plans is most likely to be useful for demonstrating a new technology or service? A. An invention plan B. A private placement memo C. A proof-of-concept Web site D. An operational plan
answer
C. A proof-of-concept Web site
question
A key employee/partner plan is also called a _____ plan. A. summary B. sales C. mini D. growth
answer
A. summary
question
A business plan that provides information to potential licensees is referred to as a(n) _____ plan. A. screening B. invention C. operational D. concept
answer
B. invention
question
_____ plans are designed to be used internally for management purposes. A. Summary B. Informational C. Operational D. Invention
answer
C. Operational
question
Which of the following is a specialized legal form of business plan crafted by lawyers for the purpose of soliciting formal investments? A. Key employee/partner plan B. Private placement memorandum C. Invention plan D. Operational plan
answer
B. Private placement memorandum
question
Which of the following is true of a private placement memo? A. It provides information to potential licensees. B. It is a complex legal document and should be drafted by a lawyer. C. It is a special form of informational plan posted on the Internet. D. It is designed to be used internally for management purposes.
answer
B. It is a complex legal document and should be drafted by a lawyer
question
Which of the following statements is true regarding special-purpose plans? A. PPMs focus on the market and operationalization of a new invention. B. Operational plans should be drafted by lawyers. C. An invention plan is designed to be used internally for management purposes. D. A proof-of-concept Web site asks viewers to provide feedback on the concept.
answer
D. A proof-of-concept Web site asks viewers to provide feedback on the concept.
question
A(n) _____ is a part of a business or business plan that exposes the firm to any kind of loss. A. risk B. achievement C. credit D. opportunity
answer
A. risk
question
Which of the following is a critical risk to a business? A. Direct customer connection B. Surplus industry experience C. Overlooked competition D. Adequate payback
answer
C. Overlooked competition
question
The _____ rate is the percentage of people who buy out of the total population of people approached for the sales of a product or service. A. base B. hit C. growth D. peak
answer
B. hit
question
Since the café is Connie's first business venture, which of the following risks is most likely to cause Mr. Johnson to evaluate her business plan negatively? A. Uncertain sales B. Experience deficit C. Overlooked competition D. Inadequate payback
answer
B. Experience deficit
question
Which of the following statements is true of a business plan presentation? A. Typically, a business plan presentation does not follow the content of a business plan. B. The content of a business plan presentation remains the same for different audiences. C. Handouts are mailed or distributed when the business plan changes frequently. D. Listeners check presentations for the content and not for the professionalism and passion of the presenter.
answer
C. Handouts are mailed or distributed when the business plan changes frequently.
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Question
What is the right structure for an essay
Answer
A paragraph is a related group of sentences that develops one main idea. Each paragraph in the body of the essay should contain:
  • a topic sentence that states the main or controlling idea
  • supporting sentences to explain and develop the point you’re making
  • evidence from your reading or an example from the subject area that supports your point
  • analysis of the implication/significance/impact of the evidence finished off with a critical conclusion you have drawn from the evidence.