Exam 6: Writing a Business Plan

To make the best impression, a business plan should follow a ________.

Which of the following business plans matches with its appropriate length?

The Partnering for Success feature in Chapter 6 focuses on the need to involve others in what the entrepreneurs are doing. This community of supporters is called ________.

Which of the following statements is incorrect regarding the executive summary of a business plan?

For most business plans, 25 to 35 pages are sufficient.

Which of the following is NOT a recommended guideline for writing a business plan?

A(n) ________ statement describes why a company exists and what it aspires to become.

Kate Payne was reading the business plan for New Venture Fitness Drinks, and noticed that prior to its financial statements, New Venture Fitness Drinks placed an explanation of the sources of the numbers for the statements and the assumptions used to generate them. This explanation is called a(n) ________.

Which of the following is NOT one of the "red flags" listed in the textbook that raises questions about one or more aspects of a company's business plan?

A tagline is a phrase that a business uses to reinforce its position in the marketplace.

There is an emerging school of thought that opposes the idea of writing a business plan and advocates experimentation and trial-and-error learning gleaned through customer feedback and formal planning. How does the approach to writing a business plan described in this book differ from this philosophy? How does trial-and-error learning figure into the approach to writing a business plan advocated in this book?

Industry structure refers to how ________ an industry is.

The 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 is referred to as a(n) ________.

Peter Watson is thinking about launching a small business consulting company. To get advice on how to proceed, he stopped by his local Small Business Administration (SBA) office. The SBA advisor told Peter that one of the first things he needs to do is to sit down and write a 25 to 35 page narrative that describes what his new business plans to accomplish and how it plans to accomplish it. The SBA advisor is telling Peter to write a(n) ________.

A computer-generated image of an invention that displays the invention as a 3D model that can be viewed from all sides and rotated 360 degrees is called a(n) ________.

A 2015 Wells Fargo/Gallup Small Business Index Survey found that only ________ percent of business owners have a formal business plan.

A(n) ________ business plan, which is typically 25 to 35 pages long, works best for new ventures who are at the point where they need funding or financing.

What section of the business plan deals with the day-to-day operations of a company?

The ________ is a short overview of the entire business plan.

Which of the following is one of the "red flags" listed in the textbook that raises questions about one or more aspects of a company's business plan?