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InstituteTest Yourself QuestionsBusiness planning - Motor CarrierFocus AreaFleet OperationsEnglishAnalysisTransportationBusiness planning - Motor CarrierUSA

Setting up a business plan for success

Is your business set up for success? Take this quiz to find out. Click below to see answers.

  1. In which part of a business plan should the company identify the customers, their demographics, industry trends, and who the company sees as their competition?
    1. Executive summary
    2. Market analysis
    3. Management plan
  2. Which part of a business plan includes the company’s mission and vision statements?
    1. Executive summary
    2. Market analysis
    3. Management plan
  3. Which part of a business plan should include an organizational flowchart that breaks down the duties of the principal members, as well as biographies and brief job descriptions?
    1. Executive summary
    2. Market analysis
    3. Management plan
  4. Both new businesses and existing businesses need a sound business plan.
    1. True
    2. False
  5. When starting a new business, three-year and five-year projections are not required to be in a financial plan because there isn’t enough information available to determine the projections.
    1. True
    2. False

Setting up a business plan for success: Answers

  1. Market analysis
  2. Executive summary
  3. Management plan
  4. True. Both new businesses and existing businesses need a sound business plan which serves as a development, planning and evaluation tool for managers and other key personnel, as a mission statement for customers, and as a sales tool for raising capital.
  5. False. Financial data and calculations are the make-or-break component of any business plan. Whether the company is a start-up or an existing business, three-year and five-year projections should be included in the financial plan.
business-planning-motor-carrier
Business planning - Motor Carrier
business-planning-motor-carrier
Business planning - Motor Carrier

Is your business set up for success? Take this quiz to find out. Click below to see answers.

  1. In which part of a business plan should the company identify the customers, their demographics, industry trends, and who the company sees as their competition?
    1. Executive summary
    2. Market analysis
    3. Management plan
  2. Which part of a business plan includes the company’s mission and vision statements?
    1. Executive summary
    2. Market analysis
    3. Management plan
  3. Which part of a business plan should include an organizational flowchart that breaks down the duties of the principal members, as well as biographies and brief job descriptions?
    1. Executive summary
    2. Market analysis
    3. Management plan
  4. Both new businesses and existing businesses need a sound business plan.
    1. True
    2. False
  5. When starting a new business, three-year and five-year projections are not required to be in a financial plan because there isn’t enough information available to determine the projections.
    1. True
    2. False

Setting up a business plan for success: Answers

  1. Market analysis
  2. Executive summary
  3. Management plan
  4. True. Both new businesses and existing businesses need a sound business plan which serves as a development, planning and evaluation tool for managers and other key personnel, as a mission statement for customers, and as a sales tool for raising capital.
  5. False. Financial data and calculations are the make-or-break component of any business plan. Whether the company is a start-up or an existing business, three-year and five-year projections should be included in the financial plan.

Is your business set up for success? Take this quiz to find out. Click below to see answers.

  1. In which part of a business plan should the company identify the customers, their demographics, industry trends, and who the company sees as their competition?
    1. Executive summary
    2. Market analysis
    3. Management plan
  2. Which part of a business plan includes the company’s mission and vision statements?
    1. Executive summary
    2. Market analysis
    3. Management plan
  3. Which part of a business plan should include an organizational flowchart that breaks down the duties of the principal members, as well as biographies and brief job descriptions?
    1. Executive summary
    2. Market analysis
    3. Management plan
  4. Both new businesses and existing businesses need a sound business plan.
    1. True
    2. False
  5. When starting a new business, three-year and five-year projections are not required to be in a financial plan because there isn’t enough information available to determine the projections.
    1. True
    2. False
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Answer