Subject: Entrepreneurship
Business Plan Questions with Answers
Group A: Very Short Questions
1. (2023 Fall Q. No. 9) Write down the common mistake associated with business planning.
Answer: The common mistakes associated with business planning are as follows:
i. Not having clear goals.
ii. Ignoring market research.
iii. Unrealistic financial projections.
iv. Weak marketing and sales strategies.
2. (2022 Fall Q. NO. 5) Enlist any four significance of the business plan.
Answer: The four significance of the business plan are as follows:
i. Provides Clear Direction
ii. Attracts Investors
iii. Identifies Potential Risks
iv. Improves Decision Making
3. (2018 Spring Q. NO. 5) Outline the major content of a good business plan.
Answer: The major content of a good business plan are as follows:
i. Title Page and Table of Contents
ii. Executive Summary
iii. Description of Business
iv. Description of Product or Service
v. Market Analysis
vi. Competitive Analysis
vii. Operations and Management
viii. Financial Components
ix. Summary
x. References and Appendix
4. (2018 Fall Q. NO. 6) What is the importance of a business plan?
Answer: The importance of the business plan are as follows:
i. Provides Clear Direction
ii. Attracts Investors
iii. Identifies Potential Risks
iv. Improves Decision Making
5. (2017 Fall Q. No. 10) What is Business Model?
Answer: A business model is a plan that shows how a company makes money. It explains what the business sells, who its customers are, how it delivers its products or services, and how it earns income. A good business model helps a company stay successful and grow by clearly defining its goals and how to achieve them.
6. What is a business plan?
Answer: A business plan is a document that explains what a business wants to do, how it will do it, and how it will make money. It includes information about the business idea, target customers, products or services, and plans for marketing and finance. It helps the business stay organized and attracts investors.
7. Point out any four scopes of business plan.
Answer: The scope of a business plan are as follows:
i. Entrepreneur
ii. Investor
iii. Employees
iv. Consumers
Group B: Descriptive Answer Questions
1. (2023 Fall Q. No. 14) “A business plan is a written document prepared by the entrepreneur that describes all the relevant internal and external elements and strategies for starting a new venture” In light with statement, explain the guidelines/criteria for writing a business plan. – Answer (Click Here)
2. (2023 spring Q. No. 17) Under which circumstances can business plan fall? – Answer (Click Here)
3. (2022 Fall Q. No. 16) Explain any 5 major contents of business plan. Do you think entry strategy is a business plan? If yes, how? – Answer (Click Here)
4. (2021 Spring Q. No. 12) What is business plan? Discuss in details the components of a business plan for a new venture. – Answer (Click Here)
5. (2019 Spring Q. No. 14) Write the concept and significance of the Business plan. Explain the major reasons for the failure of a business plan prepare by the business organizations. – Answer (Click Here)
6. ( 2019 Fall Q. No. 13) What factors need to be considering before make a good business plan? Explain with considering contexts and criteria of the business.
Please see 2023 Fall Q. No. 14