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Developing Small Business Plans Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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Question 1 1. What's the biggest mistake you can make when preparing a business plan?

Question 2 2. What do you call a written document that outlines a business's objectives and the strategy and tactics that it will use to achieve those objectives over anywhere from a three to five year period of time.

Question 3 3. Which of the following information is never included in the financial management section of a business plan?

Question 4 4. Which section of a business plan is generally first but written last?

Question 5 5. What's a typical timeframe that a business plan addresses?

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Question 6 6. What is a business model?

Question 7 7. Which of the following would NOT be an example of a franchise business model?

Question 8 8. Which of the following is NOT a type of business model?

Question 9 9. How does operations affect the business model?

Question 10 10. Business operations are dynamic and need to be constantly monitored and evaluated for improvements. What is the best way for department managers in a company to tell senior management about needed changes within their departments?

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Question 11 11. In a SWOT analysis, which of the following would be an example of an opportunity for a mobile phone company?

Question 12 12. What is a threat considered in SWOT Analysis?

Question 13 13. In a SWOT analysis, what should a company focus turning their weaknesses into?

Question 14 14. In a SWOT analysis, which of the following best describes the strengths of an organization?

Question 15 15. In SWOT analysis, what does SWOT stand for?

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Question 16 16. What is marketing myopia?

Question 17 17. What should a very large company with many different business units do for their mission statement?

Question 18 18. If a business created a mission statement that said, 'We will make products to make the world a better place,' then what type of mission statement development mistake has occurred?

Question 19 19. What question does a business mission statement answer?

Question 20 20. How does a business mission statement relate to marketing?

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Question 21 21. Which statement is TRUE for business plans?

Question 22 22. Which statement is FALSE about sales and cost projections in a business plan?

Question 23 23. Choose the BEST answer as it relates to strengths and weaknesses as discussed in a business plan.

Question 24 24. Choose the BEST answer as it relates to the marketing section of the business plan.

Question 25 25. Choose which section of the business plan prospective employees will NOT be interested in reviewing.

Developing Small Business Plans Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next question. You can skip questions if you would like and come back to them later with the "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. You will lose your work if you close or refresh this page. Good luck!

Business 321: Small Business Management  /  Business Courses
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