Business Planning
Final Exam
Course Introduction
Business Planning is a comprehensive course that equips students with the essential tools and techniques to develop effective business plans for new or existing ventures. The course covers key elements such as market analysis, competitive assessment, financial forecasting, operations strategy, and risk management. Students will learn to integrate these components into a cohesive document that communicates business objectives, strategies, and projected outcomes to stakeholders and potential investors. Through case studies, practical exercises, and the creation of their own business plans, students gain hands-on experience in strategic decision-making and entrepreneurial thinking necessary for successfully launching and managing a business.
Recommended Textbook business strategy development application 1st Canadian Edition by Gary Bissonette
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15 Chapters
2132 Verified Questions
2132 Flashcards
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Chapter 1: What Is Business
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142 Verified Questions
142 Flashcards
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Sample Questions
Q1) If a business' costs and expenses are greater than its revenue,it will suffer a loss.
A)True
B)False
Answer: True
Q2) Successful firms follow a customer-driven strategy,as opposed to the management-driven strategy used in the past.
A)True
B)False
Answer: True
Q3) A key element of business success is a business plan.
A)True
B)False
Answer: True
Q4) Businesses seek to earn a profit by providing goods and services to others.
A)True
B)False Answer: True
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Chapter 2: The Canadian Economic Environment
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123 Verified Questions
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Sample Questions
Q1) In command economies,the government plays a major role in deciding which goods will be produced and who will get them.
A)True
B)False
Answer: True
Q2) Bigbux is a major producer of whatsits,but it faces competition in the whatsit market from three other major producers.Together,Bigbux and its three large rivals control almost the entire supply of whatsits.The type of market Bigbux is in is called:
A) oligopoly.
B) duopoly.
C) monopolistic competition.
D) quasi-monopoly.
Answer: A
Q3) The total value of a country's output of final goods and services in a given year is known as the nation's gross domestic product (GDP)..
A)True
B)False
Answer: True
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Chapter 3: The Global Marketplace
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101 Verified Questions
101 Flashcards
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Sample Questions
Q1) In terms of global competitiveness,companies are attracted to countries where _______ costs are relatively low and __________ are relatively high.
A) occupational skills; labour
B) workforce; occupational skills
C) labour; professional skills
D) occupational skills; workforce
E) labour; occupational skills
Answer: C
Q2) What surprised many analysts was the _______ in which a recession,initially focused in the United States,turned into a global recession with economic contraction occurring worldwide.
A) severity
B) insignificance
C) speed
D) harshness
E) Slowness
Answer: C
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Page 5
Chapter 4: The Environment and Sustainable Business Practices
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100 Verified Questions
100 Flashcards
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Sample Questions
Q1) Environmental sustainability is a highly complex challenge which literally reaches to the core of an organization's soul.
A)True
B)False
Q2) List and briefly describe the 7 key supply side factors for resource availability.
Q3) To significantly reverse the downward spiral associated with climate change,we will need to cut carbon-based emissions during this period by at least 50% from their current levels.
A)True
B)False
Q4) Creating a regulatory and financial environment,which moves manufacturers to stress fuel economy instead of performance,could enable us to cut fuel emissions by 50% between now and 2030.
A)True
B)False
Q5) Explain resource management.
Q6) List and briefly describe the top six toxic threats according to the Blacksmith Institute.
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Chapter 5: Ethics and Corporate Social Responsibility
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102 Verified Questions
102 Flashcards
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Sample Questions
Q1) With respect to business ethics,it can be said that "it takes two to tango." This indicates that:
A) dancing around issues should be part of a firm's code of ethics.
B) an individual's behaviour is influenced by the behaviour of others.
C) teamwork eliminates a need for personal ethics.
D) management is insensitive to ethical issues.
Q2) All else held equal,socially responsible firms:
A) are viewed more favourably by consumers.
B) enjoy significantly higher profits.
C) often experience customer loyalty problems.
D) fail to earn sufficient profits for their owners.
Q3) Which of the following terms describes someone who reports illegal or unethical behaviour?
A) Whistleblower
B) Horn blower
C) Watch tower sentinel
D) Integrity watchdog
Q4) Managers consider social responsibility on an annual basis.
A)True
B)False
Page 7
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Chapter 6: Developing a Business Strategy
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117 Flashcards
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Sample Questions
Q1) Assessing what is changing in its macro-economic environment is part of the strategic planning process and its organizing framework.
A)True
B)False
Q2) Which of the following is NOT part of the strategic planning process and its organizing framework?
A) assess what is changing in its macro-economic environment
B) understanding what is influencing markets today
C) assess what strategies its competitors are pursuing
D) assess who its customers are and how they are changing
E) assess what are its capabilities, competencies and advantages
Q3) A meaningful mission statement should address topics such as the organization's:
A) form of ownership and methods of financing.
B) self-concept and company philosophy.
C) advertising strategy and distribution plan.
D) tactical plans and contingency plans.
Q4) Planning is a continuous process.
A)True
B)False
Q5) Explain Business system configuration and provide an example.
Page 8
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Chapter 7: Entrepreneurship and Forms of Business Ownership
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217 Verified Questions
217 Flashcards
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Sample Questions
Q1) "What culture or environment is needed?" is one of the key questions that managers should take into consideration when developing the organization's framework?
A)True
B)False
Q2) As strategies change,so must the business system framework required to ensure the successful execution of the revised strategic direction.
A)True
B)False
Q3) Briefly explain what a Value Chain is?
Q4) "What specializations will best achieve the strategies?" is one of the key questions that managers should take into consideration when developing the organization's framework?
A)True B)False
Q5) The efficiency of the work being performed is fundamentally influenced by the structure,culture,and managerial approach?
A)True
B)False
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Chapter 8: Developing Your Business Structure and Culture
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153 Verified Questions
153 Flashcards
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Sample Questions
Q1) Managers must think through the process and plan for the selection of an employee in the same way as we look to purchase equipment and other valuable organizational assets.
A)True
B)False
Q2) ,thereby forfeiting any potential return on our investment.
A)True
B)False
Q3) Treasure is the part of the TALENT motivational tool kit often cited as the most important.
A)True
B)False
Q4) A potential near-term impact of this short-term management approach,referred to as "short-termism",is that talent development costs are viewed more as operational expense than capital investment.
A)True
B)False
Q5) What do managers need to understand about recognizing employees as assets rather than expenses?
Q6) Why is strong leadership important?
Page 10
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Chapter 9: Managing and Leading the Organizations Talent
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176 Verified Questions
176 Flashcards
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Sample Questions
Q1) How does a small business owner seek to tackle the need to create as efficient an operation as is possible?
Q2) Small business owners should think in terms of product dependability,striving to deliver consistent experience with each customer interaction.
A)True
B)False
Q3) Quality is a critical element of operations management.
A)True
B)False
Q4) Which of the following is NOT an operations decision?
A) process application
B) labour
C) production management activities
D) temporary storage
E) None of the above
Q5) Product/service management includes supporting product enhancements.
A)True
B)False
Q6) Explain Product/Service Management.
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Chapter 10: The Marketing Challenge
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164 Verified Questions
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Sample
Questions
Q1) In an effort to increase profits,Pearl River Chinese restaurant is attempting to appeal to a specific segment of the market by offering an all-you-can-eat buffet.These efforts,designed to identify specific groups that can be profitably served,represent an example of:
A) target marketing.
B) a reference group strategy.
C) benefit segmentation.
D) B2B marketing.
E) B2G marketing.
Q2) Successful marketing researchers listen to customers and other stakeholders. A)True
B)False
Q3) Market penetration is a strategy that creates new products for present markets. A)True
B)False
Q4) The length of time spent within each stage of the decision-making process is dependent upon why potential customers would purchase a particular product and/or service.
A)True
B)False
Page 12
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Chapter 11: Understanding the Marketing Effort
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192 Verified Questions
192 Flashcards
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Sample Questions
Q1) Dedicated Sales Force is an examples of a Company-driven marketing technique.
A)True
B)False
Q2) A marketing network consists of the marketing intermediaries that transport and store goods as they move through their path from producer to final user.
A)True
B)False
Q3) Traditionally,marketing textbooks and marketers have been trained to think of the marketing mix around four concepts from a company-centric approach.
A)True
B)False
Q4) The liquor industry is attempting to revive the stagnant spirits industry by introducing low-alcohol cocktails such as Jack Daniel's Country Cocktails,Smirnoff Quenchers,and Southern Comfort Cocktails.These activities are known as product item contractions.
A)True
B)False
Q5) What is the product development stage?
Q6) What are the three key decision areas for Distribution?
Page 13
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Chapter 12: Technology and Operations Management
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150 Flashcards
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Sample Questions
Q1) to establish production facilities in low cost countries.
A)True
B)False
Q2) To build an understanding of the cost base is accomplished by working through the various zones within an organization's ______ and determining the cost composition of each.
A) value chain
B) departments
C) functions
D) divisions
E) units
Q3) The formula for the Break-even Point plus profit is:
A) total sales revenue.
B) total fixed costs.
C) forecasted cash requirements.
D) variable cost per unit of output.
E) all of the above are correct
Q4) At the break-even point total revenue is equal to total cost.
A)True
B)False
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Chapter 13: Understanding Business Finances
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102 Flashcards
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Sample Questions
Q1) The type of ownership form which can raise capital most easily is a private corporation.
A)True
B)False
Q2) A bond must be repaid over a stipulated period of time at regular intervals.
A)True
B)False
Q3) What are the five main factors that influence what form of business to start.
Q4) Long-Term Credit Facilities are debts that are due in less than six months.
A)True
B)False
Q5) For most organizations,managers will have a tendency to look first towards outward funds to compensate owners and to finance new investments.
A)True
B)False
Q6) Control of the business is an advantage of a sole proprietorship.
A)True
B)False
Q7) How do venture capitalists make money?
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Q8) What is a key component of analyzing the capital structure of an organization?
Chapter 14: Financial Statements Structure and Interpretation
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162 Verified Questions
162 Flashcards
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Sample Questions
Q1) The financial statement that explains how a firm's cash changed from the beginning of the accounting period to the end is called the income statement.
A)True
B)False
Q2) Leverage Analysis is the process of assessing the impact of the amount of debt which an organization has incurred in order to finance its asset base.
A)True
B)False
Q3) One of the fundamental types of business transactions that managers are constantly making decisions about and reviewing is current asset transactions.
A)True
B)False
Q4) Profitability is an issue that Not-for-profit (NFP) managers must manage.
A)True
B)False
Q5) organizations need to demonstrate the same financial analytical skills as for-profit managers.
Page 16
Q6) What do capital asset transactions represent?
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Chapter 15: Analyzing New Business Ventures
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131 Verified Questions
131 Flashcards
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Sample Questions
Q1) Determine the Price focuses on business valuation.
A)True
B)False
Q2) Set-up is a key analytical area of operational capacity.
A)True
B)False
Q3) In many cases,the final "GO" or "NO GO" decision comes down to labour analysis.
A)True
B)False
Q4) Key success factors for market penetration and obtaining sufficient market reach and scale depends on looking to compete as a new entrant in an existing market.
A)True
B)False
Q5) Labour is an operations decision.
A)True
B)False
Q6) Upon reading a business plan,it should be apparent who the customer is.
A)True
B)False
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