SUBJECT NAME:BUSINESS PLAN

COMPETENCY CODE:PSPMGT006

COMPETENCY TITLE: Develop a business case

Question 1

Below are examples of Financial resources, except:

Select one:

a. Bank and other loans

b. Bank overdraft

c. Cash

d. Computers

The strategic objectives should closely align with the organisation's overall mission and vision. Ifthere is a disconnect, then it would seem that a strategic plan may not deliver the results that arerequired.

Select one:

True

False

Question 3

Which one is not an examples of good performance measure?

Select one:

a. Are valid, to ensure measurement of the right things

b. Do not allow measurement of accomplishments

c. Focus employees' attention on what matters most to success

d. Provide a common language for communication

Question 4

Having identified and agreed a strategy, it is then possible to develop a project plan for itsimplementation, which sets out:

Select one:

a. Time and resources required

b. Specific actions that are required to implement the strategy

c. Who is responsible for each action?

d. All of the above

Question 5

When the first draft of the strategic plan is complete, you should circulate it around all people inyour organisation.

Select one:

True

False

Question 6

Presenting a plan properly is essential to obtaining approval from the relevant party.

Select one:

True

False

Question 7

Examples of internal organisation environment factors, excluding:

Select one:

a. External services used for promoting, selling and distributing your products and services

b. Financial resources such as funding, investment opportunities and sources of income

c. Human resources such as employees, volunteers and target audiences

d. Physical resources such as company's location, equipment, and facilities

Question 8

Performance reports should:

Select one:

a. Not clearly identify any assumptions you make

b. Address key performance indicators (KPIs) to assess the gaps and variances of the business plan against actual performance

c. Not include an assessment of the overall organisation performance, which is free from bias

d. Not contain adequate detail so that readers can clearly differentiate between planned objectives and actual performance

Question 9

Writing a business plan and researching your industry can provide various advantages:

Select one:

a. Building a greater understanding of your industry and market, which could lead to gaining an edge over competitors

b. Take control of your finances, including supervising cash flow and defining your breakeven point

c. May lead you to discover challenges that you will encounter and provide you with the chance to avoid or overcome them

d. All of the above

Question 10

A strategic plan might have the different objectives; which one is not an objective? Select one or more:

Select one:

a. To meet organisation's long term goals

b. To achieve less effective and less consistent people-management across the business

c. To instil a sense of pride in making high-quality products

d. To grow the business