MULTIPLE CHOICE QUESTIONS - IN ORDER - 5th PART - BUSINESS ECONOMICS - FROM THE NOTES
A . . . is a formal statement of a set of business goals, the reasons why they are believed attainable, and the plan for reaching those goals. It may also contain background information about the organization or team attempting to reach those goals.
Business plan
Marketing plan
Operational plan
Business plan composition:
Background information, a marketing plan, an operational plan, a financial plan, and criteria
Background information, a marketing plan, an occasional plan, a financial plan, and criteria
The other two answers are wrong
Number of Employees, annual sales figures, key product lines, location of facilities, current stage of development (start-ups), corporate structure, etc. are parts of:
The background information (in the business plan)
The marketing plan (in the business plan)
The operational plan (in the business plan)
A . . . plan is a written document that details the necessary actions to achieve one or more marketing objectives. It can be for a product or service, a brand, or a product line. It covers between one and five years
Marketing
Operational
Financial
. . . is working for one's self rather than for another person or company. In other sense, it is, earning one's livelihood directly from one's own trade or business rather than as an employee of another.
Self-employment
Autonomous
Free-labour
Which of the following statements is correct?
To be self-employed is not the same as being a business owner
To be self-employed is the same as being a business owner
The other two answers are correct
Which of the follwing statements is correct?
A business owner is not required to be hands-on with the day-to-day operations of his or her company, while a self-employed person has to utilize a very hands-on approach in order to survive
A self-employed person is not required to be hands-on with the day-to-day operations of his or her company, while a business owner has to utilize a very hands-on approach in order to survive
The other two answers are correct
According the US Beureau of Labor Statistics, only . . .% of businesses survive the first 4 years in business
44
54
64
Many experts believe only . . .% of all people are fit to run their own businesses.
20
30
40
Pricing, demand management, distribution, and promotion and brand development are part of:
Marketing plan (in the business plan)
Operational plan (in the business plan)
Financial plan (in the business plan)
Manufacturing/deployment plan, information and communications technology plan, staffing needs, training requirements, intellectual property plan, acquisition plan, organizational learning plan, and cost allocation model are part of:
Marketing plan (in the business plan)
Operational plan (in the business plan)
Financial plan (in the business plan)
Supply chain requirements, production inputs, facility requirements - size, layout, capacity, location, equipment requirements, warehousing needs for raw materials, finished goods, and space requirements are part of:
Manufacturing/deployment plan (in the operational plan)
Information and communications technology plan (in the operational plan)
Acquisition plan (in the operational plan)
Systems needed, security and privacy requirements, hardware requirements, off-the-shelf software needed, and custom development requirements are part of:
Manufacturing/deployment plan
Information and communications technology plan
Intellectual property plan
List of roles, management structure, head count approval, job descriptions, number of employees, proposed compensation, and availability are part of:
Staffing needs
Training requirements
Organizational learning plan
Training requirements should look to address:
A benefit to motivate staff
Developing the capability of the organisation to deliver the business objectives
The other two answers are correct
Which of the following statements is correct?
Most learning takes place outside of formal training activities.
Most learning takes place inside of formal training activities.
The other two answers are correct
The . . . plan discusses what lessons will be learned from the marketing, operational, and finance plans and how those lessons will be consolidated to gain strategic advantage
Organizational learning
Marketing
Operational
Which of the following statements is correct?
While a financial plan refers to estimating future income, expenses and assets, a financing plan or finance plan usually refers to the means by which cash will be acquired to cover future expenses, for instance through earning, borrowing or using saved cash
While a financing plan or finance plan refers to estimating future income, expenses and assets, a financial plan usually refers to the means by which cash will be acquired to cover future expenses, for instance through earning, borrowing or using saved cash