Answer these 10 Planning for Entrepreneurs in Entrepreneurship MCQs and assess your grip on the subject of Planning for Entrepreneurs in Entrepreneurship.
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A. True
B. False
A. Feasibility Study
B. Concept Statement
C. Planning
D. None of these
A. A process of envisioning the future for a business, including what one plans to do and how one plans to do it.
B. A method whereby market tests are conducted to get early feedback and acquire important learning and information.
C. A change in business direction.
D. None of these
A. Planning
B. Feasibility Study
C. Both a & b
D. Incorrect statement
A. Vivid vision
B. Profitability planning
C. Revenue mapping
D. Cash projecting
A. avoid the exaggerated hockey stick
B. are honest about your weaknesses
C. understand your distribution channels
D. focus on your competition
A. resources
B. market
C. relationship
D. implementation plan
A. business brief
B. pitch deck
C. feasibility study
D. elevator pitch
A. business brief
B. business model canvas
C. back-of-a-napkin plan
D. business plan
A. Sketch on a page
B. Business model canvas
C. A pitch deck
D. A business plan
A. avoid the exaggerated hockey stick
B. be realistic
C. remove any of the fluff
D. use visuals
A. avoid the exaggerated hockey stick
B. be realistic
C. remove any of the fluff
D. use visuals
A. Spending 200 hours to write a comprehensive business plan, at an opportunity cost of US$10,000 is financially prudent compared to launching a poor idea and/or unproven concept.
B. A business plan is an effective roadmap for startups to chart their course from idea to execution and implementation.
C. A business plan is the best way to organize financial projections when there is little or no existing financial data from which to work.
D. A business plan allows an entrepreneur to determine the feasibility of their idea prior to launch.
A. a plan
B. a mission
C. a vision
D. prospecting
A. Spending 200 hours to write a comprehensive business plan, at an opportunity cost of $10,000 is financially prudent compared to launching a poor idea and/or unproven concept.
B. A business plan limits a startups culture from developing organically as it takes on new partners and employees.
C. A business plan is a document that is out of date once created, and based on assumptions and financial projections of questionable validity.
D. A business plan is no longer required to obtain financing.
A. A well-written business plan is one that is generalized to apply to any stakeholder.
B. The key to a successful business plan is including multiple visual aids.
C. Your passion and vision are more important than your market research, because projections are necessarily imprecise, but your passion predicts your success.
D. It is important to consider the purpose of the business plan before writing it.
A. Sketches on a page
B. Business model canvas
C. Back-of-a-napkin
D. Business plan
A. resources
B. market
C. relationship
D. implementation plan
A. Team, Resources, Implementation plan, Management structure
B. Technical requirements, Resources, Idea, Management structure
C. Technical requirements, Relationship, Implementation plan, Market
D. Team, Resources, Idea, Market