Planning a Business (Junior Cert Business Studies): Quizzes
📚Quizzes
Practise the questions
12 questions from this quiz
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Practise the questions
12 questions from this quiz
What is a business plan essential for helping a company do?
What is a business plan essential for helping a company do?
Focus on objectives & determine how to achieve
Why do organisations that engage in thorough planning tend to be more successful?
Why do organisations that engage in thorough planning tend to be more successful?
They operate more efficiently
How does planning help businesses with potential problems?
How does planning help businesses with potential problems?
It spots potential issues before they worsen
Why do financial institutions require a business plan before providing funding?
Why do financial institutions require a business plan before providing funding?
It shows careful thought about the future
Which of these is an example of a specific objective businesses may plan to achieve?
Which of these is an example of a specific objective businesses may plan to achieve?
Becoming a market leader in their industry
What does the SMART acronym stand for in business planning?
What does the SMART acronym stand for in business planning?
Specific, Measurable, Agreed, Realistic, Time
What does 'Specific' mean in SMART planning?
What does 'Specific' mean in SMART planning?
Clearly state exactly what to achieve
What does 'Measurable' mean in the SMART criteria?
What does 'Measurable' mean in the SMART criteria?
Track progress with real data
What does 'Agreed' mean in SMART planning?
What does 'Agreed' mean in SMART planning?
All stakeholders must agree to the plan
What does 'Realistic' mean in the SMART criteria?
What does 'Realistic' mean in the SMART criteria?
Achievable given current situation & resources
What does 'Time-bound' mean in SMART planning?
What does 'Time-bound' mean in SMART planning?
Plans need a clear timeframe for completion
What is a mission statement?
What is a mission statement?
A short statement of the business's main goal