HB 358 Chapter 4 Quiz – Flashcards
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According to the textbook, a business plan is best described as a:
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narrative description of a new business
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A business plan is important for two reasons: it is a selling document for the company and:
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it is an internal document that helps a new business flesh out its business model and solidify its goals
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There are two primary audiences for a business plan:
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a firm's employees and investors and other external stakeholders
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Which of the following statements is incorrect regarding guidelines for writing a business plan?
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To make the best impression, a business plan should follow an unconventional structure, so it will stand out.
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There are three types of business plans:
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summary plan, full business plan, operational business plan
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The __________ is a short overview of the entire business plan.
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executive summary
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The "operations plan" section of a business plan deals with the:
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day-to-day operations of the company
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The in-class discussion of the MooBella case we determined that Moobella's problem appeared to be?
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A problem with the strength of the business model
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A(n) __________ is a plan that details how the owners of a firm will sell their interest in the firm and convert their stock to cash.
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exit strategy
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According to the textbook, in the first meeting investors typically focus on whether the management team has the skills and experience to pull off the venture and:
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whether a real opportunity exists
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The "management team and company structure" section of the business plan often given disproportionate weight and scrutiny among investors.
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True
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The company structure statement is a document that lays out specifically how much money a firm needs, where the money will come from, and what the money will be used for.
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False
