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Homework answers / question archive / University of California, Berkeley - BUSINESS 107 CHAPTER 2 The Business Plan: Road Map to Success 1)A(n) ________ is a document that thoroughly explains a business idea and how it will be carried out
University of California, Berkeley - BUSINESS 107
CHAPTER 2
The Business Plan: Road Map to Success
1)A(n) ________ is a document that thoroughly explains a business idea and how it will be carried out.
a. resume
b. marketing plan
c. analysis
d. business plan
2. Bankers and other potential investors will often refuse to see an entrepreneur who does not have a ________.
a. complete business plan
b. sales forecast
c. resume
d. marketing plan
3. Writing a business plan can ensure that you ________.
a. achieve your expense projections
b. figure out how to make your business work
c. meet your target revenue goals
d. make a profit
4. It is best for ________ to write a new venture's business plan.
a. the marketing manager
b. the entire team
c. a consultant
d. the Chief Financial Officer
5. Your business plan projections should be ________.
a. incredible and impossible to reach
b. optimistic and a bit of a stretch
c. practical and easy to reach
d. realistic and attainable
6. A business plan can help a company ________.
a. operate more effectively
b. define its core mission
c. raise capital
d. All of the above
7. The ________ section of the business plan should be written last.
a. Cover Page
b. Mission, Vision, Culture
c. Executive Summary
d. Financial Statements
8. The Executive Summary contains the ________.
a. inspired enthusiasm for success
b. story of the business
c. funding request
d. All of the above.
9. Making the beliefs, values, and behavioral norms explicit and intentional builds the ________ of an organization.
a. culture
b. vision
c. mission
d. All of the above.
10. One section of the business plan that is often neglected is the ________.
a. Marketing Plan
b. Opportunity Analysis and Research
c. Executive Summary
d. Financial Projections
11. The ________ addresses the roles of the community, region, nation, and world in a business.
a. business analysis
b. environmental analysis
c. industry analysis
d. proof of market
12. Target market segments are defined by common factors such as ________.
a. psychographics
b. geography
c. demographics
d. All of the above.
13. A(n) ________ competitor provides a substitute product or service that a consumer might buy instead of yours.
a. contextual
b. indirect
c. direct
d. alternate
14. The four factors that form competitive advantage are ________.
a. product, price, promotion, and place
b. product, place, politics, and price
c. product, packaging, promotion, and price
d. product, price, promotion, and public opinion
15. Price should reflect the organization's ________.
a. policy
b. vision
c. strategy
d. All of the above.
16. Advertising is ________ promotion through media outlets.
a. paid
b. free
c. discounted
d. personal
17. Telemarketing is a form of ________.
a. advertising
b. publicity
c. direct marketing
d. None of the above.
18. Which of the following is not needed in all business management teams?
a. operations
b. outside directors
c. marketing
d. accounting
19. Resumes and position descriptions should be included in business plans for ________.
a. all employees
b. key managers
c. Both of these.
d. Neither of these.
20. A factor to consider when selecting a physical location is ________.
a. nearby university
b. wage rates
c. work force availability
d. All of the above.
21. Cash flow ________ be negative before debt and equity infusions and ________ be negative after them.
a. can, cannot
b. cannot, cannot
c. cannot, can
d. can, can
22. Income statement projections realistically ________ in the first few months of operations.
a. show losses
b. show profits
c. breakeven
d. marginal profits
23. Ratio analysis can help business owners ________.
a. secure funding
b. manage operations
c. understand their performance relative to peers
d. All of the above.
24. An IPO is a ________ exit strategy for entrepreneurial ventures.
a. extinct
b. rare
c. common
d. an alternative for a buyout plan
25. Which of the following is not a best practice?
a. Write for your audience.
b. Use technical language and jargon.
c. Show that you are emotionally, intellectually and financially invested in the business.
d. Explain why the business will be successful.
26. A(n) ________ is a 15 to 30 second summary of your business.
a. story
b. advertisement
c. elevator pitch
d. executive summary
27. When you make an in-person presentation to prospective investors you should ________.
a. introduce yourself
b. engage the listeners interest
c. use clear visual aids
d. All of the above.
28. Business plan and venture competitions for students are held worldwide. Many all of them
include ________.
a. oral presentations
b. prizes
c. travel
d. All of the above.
29. If a company does not have ________ it will fail.
a. property
b. cash
c. advertising
d. advanced technology
Chapter 2 – Essay
Provide detailed and comprehensive information to support our answer. Where applicable use examples to support your answers.
30. Explain 3 reasons why a start-up organization would have a written business plan
1. Writing a business plan early will save you time and money.
2. Your business plan is the key to raising capital.
3. The business plan is an operations guide.
31. What is the importance of having a professional, polished business plan?
32. Discuss the significance of the management section of the business plan and what it should contain.
33. Describe mission, vision and culture.
34 What are the types of financial information to include in a business plan and why are they important?
Chapter 2 – True-False
35. A feasibility analysis is a study to assist in making a go/no go decision based upon a close examination of product/service, market, industry, and financial data in a sufficient degree of detail to ensure confidence in the results.
a. True
b. False
36. It is best to wait to write a business plan until you find lenders or investors.
a. True
b. False
37. A business plan is the key to raising capital.
a. True
b. False
38. The marketing plan is based on the marketing mix of product, price, place, and packaging.
a. True
b. False
39. The appendices will provide you with an opportunity to strengthen your business plan with examples and details that are not critical for inclusion in the main portions.
a. True
b. False
