ch.. - Chapter 10: Writing the Business Plan MULTIPLE...

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Chapter 10: Writing the Business Plan MULTIPLE CHOICE 1. What has been called the entrepreneur’s road map because it lays out the direction, sources of fuel, and competitive terrain for the growing business? a. Vision statement b. Industry analysis c. The strategy model d. The business plan ANS: D The business plan has been called the entrepreneur’s road map because it lays out the direction, sources of fuel, and competitive terrain for the growing business. REF: 10-1 2. Fred Smith founded this company in 1971 after doing a tour of duty as a U.S. marine in Vietnam. Arguably one of the world’s most successful businesses, its 2003 sales topped $22 billion, and its brand is one of the most recognized on the planet. Identify the company. a. South West Airlines b. FedEx c. Virgin Atlantic d. Blue Star ANS: B FedEx CEO, founded the company in 1971 after doing a tour of duty as a U.S. marine in Vietnam. REF: 10-2a 3. Prior to his military duty, Fred Smith was an undergraduate student at Yale, where he wrote a paper that was to become the idea behind FedEx. What was his idea about? a. A new logistics system b. A new way of accounting c. A new way of dealing with foreign investors d. A new transaction system ANS: A Fred Smith, the FedEx CEO, founded the company in 1971 after doing a tour of duty as a U.S. marine in Vietnam. Prior to his military duty, Smith was an undergraduate student at Yale, where he wrote a paper that was to become the idea behind FedEx. REF: 10-2a 4. What was the assignment given to Fred Smith during his undergraduate studies, the paper he wrote which became the idea behind his company FedEx? a. To devise a new way of marketing b. To find out how could goods be delivered cost-effectively to different countries c. A concern in the early stages of computerization of the American workplace d. To find out how to improve communication ANS: C
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As Smith recalls it, he was given the assignment by an economics professor in 1965 to solve a fundamental problem that was becoming a concern in the early stages of computerization of the American workplace. REF: 10-2a 5. In his undergraduate assignment, Fred Smith pointed out that growth in the computer industry was dependent on the development of a new type of ____ system. a. Memory b. Processing c. Storage d. Logistic ANS: D In his paper, Smith pointed out that growth in the computer industry was dependent on the development of a new type of logistic system, one that could speed computer parts to remote corners of the country to keep businesses up and running. REF: 10-2a 6. When he was in Vietnam, Fred Smith recognized that the outdated logistics system used to transport goods in the United States was being used by the military. He described the system as “____.” a. Push-pull b. Supply-push c. Order-deliver d. Order-supply ANS: B When he was in Vietnam, Smith recognized that the outdated logistics system used to transport goods in the United States was being used by the military. He described the system as “supply-push.”
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ch.. - Chapter 10: Writing the Business Plan MULTIPLE...

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