Which of the following is not an explanation for why small businesses tend not to write formal business plans?
a lack of understanding of the process or benefits of business planning
pressure on doing, rather than thinking, or gathering information
no data being available
the belief that strategic planning is for larger organisations
Which of the following is not an entrenched cultural value that might impede strategic planning?
Stability
Compartmentalization
Internal orientation
Proactive behaviour
A business plan should be used only when setting up a new venture. True/False?
True
False
It is often a good idea to get an experienced third party to draw up the business plan for you. True/False?
True
Flase
Which of the following is not a good reason for writing a business plan?
assessing the feasibility of a business or project
setting objectives and budgets
Though this knowledge is important, writing a business plan involves much more than this
calculating how much money is needed
Managers and investors are generally looking for the same things in a business plan. True/False?
True
False
A good business plan will answer 3 straightforward questions. Indicate which of the following is not one of these.
Where have we been?
Where are we now?
Where do we intend going?
How do we get there?
sourcing premises
The format of a business plan should be tailored to suit its particular context. True/False?
True
False
Most investors won’t be very interested in who actually comprise the management team, which is why details should be kept to the Appendices. True/False?
True
False
The best way to write a business plan is to use a standard template provided by one of the banks or specialist business planning software. True/False?