Exam (elaborations)
Business Foundations A Changing World 11th Edition Ferrel - Test Bank
- Course
- Institution
Business Foundations A Changing World 11th Edition Ferrel - Test Bank
[Show more]
Seller
Follow
evileye251
Reviews received
Content preview
, Appendix ATrue / False Questions
1. You are encouraged to submit your idea for approval to your instructor as soon as possible.
True False
2. A business description identifies the target market and develops a strategy for appealing to it.
True False
3. The executive summary appears first but should be written last.
True False
4. One of the decisions you will need to make, in regards to marketing strategy, is the type of
product you want to offer.
True False
5. One of the operational issues you need to resolve is determining how many personnel are needed
and what their required education and skills should be.
True False
Multiple Choice Questions
AppA-1
Copyright © 2018 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of
McGraw-Hill Education.
,6. Which of the following is the best reason that you should submit your idea to your instructor as
early as possible?
A. to get feedback on ways to improve your idea
B. to pique your instructor's interest in your idea
C. to eliminate wasted effort on unfeasible ideas
D. to request your instructor's help in researching your idea
E. to make sure your idea is completely different from what other students are doing
7. Christina's instructor asked each student in her class to develop a hypothetical business plan for a
new and unique good, service, or business. Her idea is to start a new online beauty consulting firm.
What is the first thing she should do to start this project?
A. write an executive summary for her business
B. create a marketing plan for her business
C. do some online research to see if similar businesses exist
D. talk to owners of similar businesses to make sure her idea is feasible
E. submit her idea to her instructor for approval
8. Business plan proposals will be evaluated based on
A. whether your business will ultimately succeed or fail.
B. their thoroughness and your ability to provide support for the idea.
C. the originality of your idea.
D. your ability to sell your product to your peers.
E. your ability to show proven sales results.
AppA-2
Copyright © 2018 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of
McGraw-Hill Education.
, 9. Joe is creating a business plan for a new robot that can do his homework for him. Which of the
following elements should his business proposal include?
A. a competitive analysis
B. a detailed product drawing
C. a detailed and final plan for producing the product
D. a comprehensive and fully developed marketing plan
E. a sample version of his product
10. Bethany is developing a business proposal for a new vegetarian frozen foods brand. Her business
description should include all of the following EXCEPT
A. an overview of the frozen vegetarian foods she wants to produce.
B. her vision for the proposed frozen vegetarian foods.
C. a reason that these frozen vegetarian foods should be produced.
D. a strategy for appealing to her target market.
E. a rationale for why she believes her business will succeed.
11. Daniel wants to start a new spin studio. He believes that spin studios that exist as part of
established gyms are not effective because spinning requires a dark room and loud music. He also
doesn't like that most gyms only have a few spin classes per day. He plans to hire enough
instructors to offer more classes throughout the day, not just during the high traffic morning and
evening time frames. His overall purpose is to provide the optimal conditions for spinning and to
start a community that works together to reach fitness goals through spinning. Which of the
following elements of a business description does this scenario best describe?
A. a rationale
B. a mission
C. an objective
D. a competitive analysis
E. a target market analysis
AppA-3
Copyright © 2018 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of
McGraw-Hill Education.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller evileye251. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $26.83. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
81989 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now