1. Strategic planning is seen as a series of techniques and tools enable organizations to be able to achieve their specific goals about objectives.

True

False

2. Strategic thinking is the creative analysis of the competitive landscape and a deep understanding of customer value.

True

False

3. A firm that pursues a Cost leadership strategy is one that always will have the lowest price in an industry.

True

False

4. The two major reasons for developing a comprehensive business plan is that the plan will be used to in operating the business and it's useful for securing external funds from the bank, a venture capitalist or other investments.

True

False

5. One has only to build a business plan at the start of the business. This will guide the company for the foreseeable future.

True

False

6. A recent study found that there was a near doubling of successful growth for those businesses that completed business plans compared to those that did not create one.

True

False

7. Angel investors might expect a lower return than venture capitalists.

True

False

8. Government sources of information are not likely to be of much benefit in developing a business plan for a small business.

True

False

9. There is no universal set of forecasting techniques that can be used in all types of small and midsize businesses.

True

False

10. Exponential smoothing would be considered a quantitative forecasting technique.

True

False