A Business Plan Imagine That You Are the Owner of a Small Company

question 14

Multiple Choice

A Business Plan
Imagine that you are the owner of a small company that sells business equipment and computer hardware.You employ about 40 people.You know that the organisation needs to move in a different direction and you want to set some long-term goals for the company.You want to write something that will cover the next three years only, knowing that business needs change somewhat frequently.Your goal is to write something that provides direction, but does not contain extremely defined objectives.
-Refer to A Business Plan (Scenario) .What could be said about your plan if it turns out to be inaccurate?

• A)It was a waste of time.
• B)The end result is the only truly important result.
• C)Inaccurate planning is of use for establishing direction.
• D)The planning process has various benefits and can be valuable.
• E)Inaccurate planning maximises wasted effort.

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Definitions:

Surplus

An excess of income or assets over expenditure or liabilities in a given period, typically a fiscal year, leading to available resources beyond what is required.

Supply Schedule

A table that shows the quantity of a good or service that producers are willing to supply at various prices.

Equilibrium Price

The price level at which the supply of goods matches the demand for goods.

Equilibrium Price

The price point at which the quantity of goods supplied equals the quantity demanded, resulting in market stability.