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The term that explains what the business intends to do is called a




Description: expandQuestion Completion Status;Question 1;1. The term that explains what the business intends to do is called a;Mission;Vision;VRIO analysis;Value System;Question 2;The term that explains how the vision is to be turned into reality is known as the;Mission;Vision;Value added analysis;SWOT analysis;Question 3;Which is NOT a characteristic of a good business plan?;tells a coherent, consistent and cohesive customer focused story;clearly defines the market, its prospects, the customers and suppliers;is supported by those that must implement it.;has advisers from competitive businesses.;Question 4;The first port of call for funds for smaller business ventures are;local bankers;family and friends;equity firms;industry gurus;Question 5;Which is not a component of the Executive summary of a business plan?;Current state of the business;Products and services and the customers;Sources of sustainable competitive advantage;Major obstacles faced;Question 6;An evaluation of an uncertain future, issues and tactics a business must face is known as;risk analysis.;Regression analysis;ratio analysis;product life cycle.;Question 7;Obtaining financial and operational data from competitors against which a business can measure its own performance is known as;market research;industry life cycle;marketing mix;benchmarking;Question 8;The concept that describes the different stages of a product from introduction through growth to maturity and decline is known as;product management;ratio analysis;regression analysis;product life cycle.;Question 9;Analyzing the fit between a business's resources and opportunities and takes nto account how a business may need to adapt is known as;strategic planning;planning for profits;vision;mission;Question 10;Using the PEST Analysis, the economic analysis must include;local, national, and supranational issues.;local, national and global economic factors;changes in technology;shifts in the demographics of the population.;Question 11;11.The marketing plan include(s) major components which include;benchmarking.;market analysis.;market strategy.;both b and c.;Question 12;12. The objective of regression analysis (slthough few owners conduct it) is to;find a function that best deacribes the relationship between the variables.;find the marketing tool that best fits the company and customers.;evaluate the marketing strategies for the benefit of operstions.;none of the above.;Question 13;Discuss the effects of price elasticity of demand and how it impacts the pricing of business. Include an example in your explanation.;Question 14;In order for a business to carry out its activity, the owner must develop an;company motto;operational plan;financial plan;employee schedules


Paper#20171 | Written in 18-Jul-2015

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