306 Business Mod 9

Which of the following best describes the purpose of the executive summary?

Condense the pertinent information together for initial review

Which section of the business plan is critical when applying for financial backing?

Executive Summary

A business plan that is written for planning purposes and loan purposes are the same.

False

The easiest portion of the business plan to write is the financial projections.

False

The portion of the business plan that should include policies and procedures is in the Marketing Plan section.

False

What is the ultimate purpose of the Risk Assessment section of a business plan?

Generate a contingency plan to counteract the most significant risks.

Which part of the business plan is an outline of the organization, procedures, and policies of the business?

Operations

What component from the list below is considered necessary to be included in an operations overview?

Policies and procedures

A business plan helps minimize risks

True

A business plan pinpoints what a practitioner aims to accomplish and how the practitioner intends to organize resources to attain those goals.

True

A business plan provides focus and a means to evaluate progress.

True

A business plan should include marketing goals for four areas: promotion, advertising, publicity, and community relations.

True

A mission statement conveys a business's essence.

True

Employee training plans and compensation should be included in the business plan.

True

Which of the following best describes why a practitioner would include a supplement to his business plan? To

secure a loan.