1) What is a business plan? a) A timetable for staff holidays b) A document showing objectives and how they will be achieved c) A financial statement only d) A marketing campaign 2) Why is a business plan especially important when starting out? a) To avoid paying tax b) To impress competitors c) To avoid hiring staff d) To check if the business is financially viable 3) Which of the following is included in a business plan? a) Business details b) Favourite colours of the owner c) Competitors’ staff names d) Weather forecasts 4) What are product details in a business plan likely to include? a) Supplier names b) Employee wages c) Unique Selling Point (USP) d) Social responsibility policies 5) What does "market structure" cover in a business plan? a) Customer needs and competitors b) Employee job descriptions c) The shape of the market building d) Number of suppliers 6) What is meant by “resources required” in a business plan? a) Only money b) Staff, premises, and equipment c) Advertising campaigns d) Market share 7) Which part of the business plan covers “how much money will be required and where it comes from”? a) Finance required b) Market information c) Business details d) Resources 8) What would be an example of a USP for McDonald’s when they first started? a) Offering gourmet fine dining b) Delivering via UberEats c) Selling clothing d) A limited menu with fast service 9) Why do businesses create business plans? a) To avoid market research b) To set objectives and plan how to achieve them c) To copy competitors d) To reduce employee pay 10) Which of the following is not a feature of a business plan? a) Marketing information b) Market structure c) Owner's holiday plans d) Finance required

Business Plans

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