MIDTERM LAB QUIZ 1

Started on Thursday, 4 May 2023, 2:53 PM

State Finished
Completed on Thursday, 4 May 2023, 2:58 PM
Time taken 5 mins 8 secs
Marks 18.00/20.00
Grade 90.00 out of 100.00
Question 1
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Question text
Positive external factors the company can exploit to accomplish its mission, goals, and
objectives.

Select one:

weaknesses

opportunities

strengths

threats
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Question 2
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which of the following is/are aspects of a small company?

Select one:

Service they provide

All of the above

Pricing they offer

Products they sell

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Question 3
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Question text
which of the following is/are the Elements of a Business Plan?

Select one:

all of the above

Title Page and Contents

Executive Summary

Vision and Mission Statement

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Question 4
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which of the following is/are Strategic Management Process?

Select one:

Scan environment for opportunities and threats.

Assess strengths and weaknesses.

Develop a vision and translate it into a mission statement.

All of the above

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Question 5
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The aggregation of factors that sets a company apart from its competitors and gives it a
unique position in the market that is superior to its competition.

Select one:

strategic plan

franchise

strategic management

competitive advantage
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Question 6
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which of the following is/are the Elements of a Business Plan?

Select one:

Pro Forma Financial Statements

Plan of Operation

all of the above

Description of Management Team

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Question 7
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It is a road map of the actions an entrepreneur draws up to achieve a company’s mission,
goals, and objectives.

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strategy

goals

objectives

purpose
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Question 8
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Question text
A clearly defined vision __________ .

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all of the above

Provides direction

Motivates people

Determines decisions
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Question 9
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Negative external factors that inhibit the firm's ability to accomplish its mission, goals, and
objectives.

Select one:

opportunities

weaknesses

threats

strengths
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Question 10
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 Question text
Negative internal factors that inhibit a company’s ability to accomplish its mission, goals,
and objectives.

Select one:

mission

vision

strengths

weaknesses
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Question 11
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It is a written expression of how the company will reflect an entrepreneur’s values, beliefs,
and vision – more than just “making money.”

Select one:

objectives

mission

vision

goal
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Question 12
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The practice of gathering, organizing, and disseminating the collective wisdom and
experience of a company’s employees for the purpose of strengthening its competitive
position.

Select one:

goals

objectives

purpose

strategy
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Question 13
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Question text
which of the following is/are the Elements of a Business Plan?

Select one:

all of the above

Business and Industry Profile

Company History

Business Strategy
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Question 14
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The process of determining whether an entrepreneur’s idea is a viable foundation for
creating a successful business.

Select one:

Feasibility Analysis

Business strategy

Business Plan

Marketing Strategy
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Question 15
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What Lenders and Investors Look for in a Business Plan?

Select one:

Character

collateral

Conditions

all of the choices

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Question 16
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which of the following is/are Strategic Management Process?

Select one:

Formulate strategies.

All of the above

Translate plans into actions.

Establish accurate controls.

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Question 17
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which of the following is/are the Elements of a Business Plan?

Select one:

Marketing Strategy

Competitor Analysis

all of the above

Description of the Firm’s Product or Service

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Question 18
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which of the following is/are Strategic Management Process?

Select one:

Create goals and objectives.

Identify key success factors.

Analyze competition.

All of the above

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Question 19
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What Lenders and Investors Look for in a Business Plan?

Select one:

all of the above

Collateral

Capacity

Capital
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Question 20
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It is the result of an entrepreneur’s dream of something that does not exist yet and the
ability to paint a compelling picture of that dream for everyone to see.

Select one:

objectives

mission

vision

goal
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