Reference no: EM131690296
1. Strategic planning is seen as a series of techniques and tools enable organizations to be able to achieve their specific goals about objectives.
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False
2. Strategic thinking is the creative analysis of the competitive landscape and a deep understanding of customer value.
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False
3. A firm that pursues a Cost leadership strategy is one that always will have the lowest price in an industry.
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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.
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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.
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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.
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False
7. Angel investors might expect a lower return than venture capitalists.
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False
8. Government sources of information are not likely to be of much benefit in developing a business plan for a small business.
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False
9. There is no universal set of forecasting techniques that can be used in all types of small and midsize businesses.
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False
10. Exponential smoothing would be considered a quantitative forecasting technique.
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False