1. Your business plan is a blueprint for the achievement of your goals.
Correct answer:C
The business plan describes what you plan to do and how you plan to do it. It describes the desired and planned future of your business.
2. The mission statement identifies the scope of the business operations. It describes the purpose of the organization or the business.
The primary purpose of a mission statement is to state the reason for the existence of a business . So, the correct answer is C.
3."To make a profit while benefiting humanity" is an example of a mission statement that incorporates values. Correct answer: A
This statement is a mission statement that is both capitalist and socialist in nature. Making profit while the humanity alsa benefits is example for social responsible business.
4.A mission statement that concentrates on how your business will affect your competitors, rather than focusing on your goals is called an anti-mission statement. Correct answer:A
The anti-mission statement focuses on the competitor, and by doing so it loses the main purpose of the mission statement, to focus and describe own goal and objectives, so it is characterizes as anti-mission.
5. Fortune 500 is a list that lists the 500 largest United States corporations by total revenue for their respective fiscal years.
A business usually becomes listed in the Fortune 500 during its mature stage. Correct answer:A
6.If you most enjoy the start-up stage of business, you may consider selling when you reach the successful stage, and plan to start another business. Selling the business at its successful stage is mots appropriate because it will bring you the biggest profit.
7. Maureen, a talented painter, started a business making handmade furniture with customized designs painted on each piece. Because she knows nothing about marketing, you'd advise her to rely on word-of-mouth to sell her furniture . This would be cost effective and is the best way (most efficient) to market a business. Correct answer: C
