Business Plan

Question 1

It is a detailed and integrated written document that describes the various activities involved in opening and operating a new entrepreneurial venture

Answer 1

Business Plan

Question 2

It is prepared using a scientific approach.

Answer 2

Business Plan

Question 3

It is the road map of the new
business for it provide a clear direction and light to an uncertain business endeavor

Answer 3

Business Plan

Question 4

A detailed analysis that considers all of the critical aspects of a proposed project in order to determine the likelihood of it succeeding.

Answer 4

Feasibility Study

Question 5

Forerunner of business plan.

Answer 5

Feasibility Study

Question 6

the formulation and drafting of the proposed business name is not as simple as it sounds. It is a delicate and important entrepreneurial task. Remember that the name of a business may exist in the market for many year. Careful and in depth planning is of prime importance.

Answer 6

Proposed Name Of The Business

Question 7

this important that the address of the business is correctly written because all business correspondence are mailed to the business address. Raw materials and other manufacturers are shipped by the by the seller to the designated business address. Nowadays it is also necessary for the business to have an email address to facilitate electronic communication between the business and the customers, suppliers, creditors, and other significant parties.

Answer 7

Address of the business

Question 8

Classification of business ventures according to FORM:

Answer 8

Sole Proprietorship
Partnership
Corporate

Question 9

type of business owned and manage by a single person.

Answer 9

Sole Proprietorship

Question 10

a formal arrangement by two or more parties to manage and operate a business and share its profits.

Answer 10

Partnership

Question 11

• formed by at least five but not more than fifteen persons. It has a distinct personality separate from the owners.

Answer 11

Corporation

Question 12

Refers to the person originally formed the corporation

Answer 12

Incorporators

Question 13

organized under the laws of the Philippines

Answer 13

Domestic Corporation

Question 15

when they are authorized to issue share of stock Holders

Answer 15

Stock Holders

Question 15

when they are not authorized to issue share of stocks to stockholders.

Answer 15

Non-Stock Holders

Question 16

organized under the laws of the foreign country but has the authority to operate in the Philippines

Answer 16

Foreign Corporation

Question 17

A brief description of the business must include information about the type of the product or service that the business intends to produce or provide. It may include a brief information about the ultimate mission, vision and objectives of the business. The other products or services that the business plans to produce or provide must also be mentioned in the description of the business.

Answer 17

Description of the business

Question 18

engage in buying and selling of products or goods

Answer 18

Merchandising

Question 19

provide service to the customer either in professional or non-professional.

Answer 19

Service

Question 20

engage in buying raw materials and supplies to be processed into finished products.

Answer 20

Manufacturing

Question 21

the basic entrepreneurial consideration is the place that proposed business in a strategic location that will assure competitive advantage. The following factors should be considered when deciding on the location of the proposed business

Answer 21

Location of the business

Question 22

The estimated total initial cost of the business venture must be clearly indicate. It should include the projective breakdown or allocation of the total cost, e.g., how much will be for building fixtures, equipment,
supplies, and working capital. This section also presents the source or sources of funds. The initial cost of investment may be provided solely by the owner/s or partly by the owners and creditors. The estimated period to settle the funding source provided by the creditors must be also be mentioned.

Answer 22

Funding Requirement and source

Question 23

• describe what the company wants to achieve and where it wants to go in the future. It determines the course of direction of the company and identifies which markets, technologies, products, or customers tofocuson.

Answer 23

Vision Statement

Question 24

describes a company’s reason for its existence. It answers the question the question why the company exist.

Answer 24

Mission Statement

Question 25

are specific accomplishments or action plans that the company wishes to achieve within a period of time.

Answer 25

Goals

Question 26

are similar to goals but they are more measurable and are achievable within a short period of time

Answer 26

Objectives

Question 27

defines the perspective of the business interms of its structure production operation and financial activities that will leadtothe achievement of the VMGO.

Answer 27

Business Model

Question 28

It must defined how the business gives importance to its relations to with customers creditors suppliers and internal human resources

Answer 28

Business Model

Question 29

Basically reflect certain innovations that will indicate the competitiveness of the business in the industry.

Answer 29

Business Model

Question 30

help determine how thebusiness defines its course and the process of accumulatingwealth.Ittells the size of the market and the target market shareof thebusinessand products. The business and product position must beabletoconvince the reader that the proposed business has a competitiveadvantage in the market.

Answer 30

Business Product Positioning

Question 31

This section describe the methodologies or approaches that will betakenby the business in order

Answer 31

Wealth Improvement approach

Question 32

this is the last section of executive summary is the descriptionofpartiesthat strongly support the business

Answer 32

Parties in supporting a business

Question 33

It is a strategic tool that help determine the external andinternal factors affecting the performance of thebusiness

Answer 33

Environmental Analysis

Question 34

it is the heart of the business

Answer 34

Environmental Analysis

Question 35

describe the the global business situationtoprovideenough knowledge about the global perspective or horizonof thebusiness.

Answer 35

Global Analysis

Question 36

tells how the environment forces affect the proposed business and how great their effects are

Answer 36

Societal Analysis

Question 37

focus mainly on the customer and competitors

Answer 37

Industry Analysis

Question 38

refers to the gathering, critical
evaluation and utilization of information on events and activities and their relationships with the physical, societal and industry environments.

Answer 38

Environmental Analysis

Question 39

• a tabular framework of the trends and development in the different forces in the external
  environment.

Answer 39

PESTEL Analysis

Question 40

classifies the various environment forces into their frequency of occurenace and level of effect to the existing or proposed business.

Answer 40

Environmental Force Matrix

Question 41

otherwise known as the “five forces of
competition,
” was popularized by Michael Porter, a prominent figure instrategyformulation

Answer 41

Forces of Competition Model