AnswersHSA 26-27 Principles of BusinessMarketing and Finance AStudy Guide and Quiz

Study Guide and Quiz Answers

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1
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Your company will need a business plan in order to do what?

A
Increase revenue.
B
Identify an opportunity.
C
Pay taxes.
D
Get funding.
2
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The U.S. consumer market is large, but other markets may offer what advantage?

A
Higher levels of market saturation
B
Better opportunities for growth
C
More demographic trends
D
More entertainment trends
3

If a company's scope is too big, what is likely to happen?

A
The company will face more conflicts of interest.
B
Employees will participate in a SWOT analysis.
C
Employees will have better morale.
D
The company will lose direction and focus.
4

A company's ____________ are the priorities, principles, and beliefs that guide the company.

A
Strengths
B
Demographics
C
Values
D
Opportunities
5

In a company's SWOT analysis, which of the following is an example of a threat?

A
The company makes a low quality product.
B
The company's employees have bad morale.
C
There are many competitors in the market.
D
The market is not very saturated.
6

Which of the following activities would be most helpful in figuring out what your company's competitive advantages are?

A
Limiting your scope
B
A SWOT analysis
C
Setting company values
D
Demographic research
7

What type of trend is caused by changes in the characteristics of a population?

A
A style trend
B
A competitive trend
C
A lifestyle trend
D
A demographic trend
8

In a company's SWOT analysis, which of the following is an example of a strength?

A
A law is passed that decreases demand for the company's product.
B
A demographic trend increases demand for the company's product.
C
The company's employees are efficient and productive.
D
The company doesn't have many competitors.
9

Which of the following sections of a business plan comes first but should be written last?

A
Goals and Strategy
B
Executive Summary
C
Products and Services
D
Funding Request
10

The spoken version of your company's purpose is called _____________.

A
An elevator pitch
B
A vision statement
C
Your values
D
Differentiation

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