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20 Business Plan Quiz Questions and Answers
A business plan is a comprehensive document that outlines the goals, strategies, and financial projections of a business venture. It serves as a roadmap for entrepreneurs and stakeholders to understand the direction and viability of the business. Here’s an overview of the key components typically included in a business plan:
Executive Summary: This section provides a concise overview of the entire business plan. It highlights the company’s mission, vision, key objectives, and a summary of the proposed business model.
Company Description: Here, you’ll provide a detailed explanation of your business concept. Include the type of business, its legal structure, location, target market, and any unique selling propositions that set your business apart.
Market Analysis: Conduct thorough market research to understand your industry, target market, and competitors. Identify trends, potential opportunities, and challenges. Explain how your product or service will meet the needs of your target audience better than existing solutions.
Organization and Management: Describe the organizational structure of your business, including key team members, their roles, and relevant experience. Investors want to know that you have a capable team driving the venture.
Article overview
Part 1: 30 business plan quiz questions & answers.
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1. Question: What is the primary purpose of a business plan? a) Secure funding b) Improve employee morale c) Enhance customer service d) Increase market competition Answer: a) Secure funding
2. Question: Which section of a business plan outlines the company’s mission and vision? a) Marketing strategy b) Financial projections c) Executive summary d) Company overview Answer: d) Company overview
3. Question: Which of the following is NOT a common business plan component? a) Competitive analysis b) SWOT analysis c) Cash flow statement d) Social media strategy Answer: d) Social media strategy
4. Question: What is the purpose of conducting a market analysis in a business plan? a) Determine the company’s competitors b) Develop financial projections c) Define the company’s mission d) Set employee goals Answer: a) Determine the company’s competitors
5. Question: Which section of a business plan highlights the company’s unique selling proposition (USP)? a) Marketing strategy b) Company description c) Competitive analysis d) Financial projections Answer: a) Marketing strategy
6. Question: What financial document shows a company’s revenues and expenses over a specific period? a) Balance sheet b) Cash flow statement c) Income statement d) Profit and loss statement Answer: c) Income statement
7. Question: In a business plan, what does ROI stand for? a) Return on Investment b) Revenue on Investment c) Risk of Inflation d) Rate of Interest Answer: a) Return on Investment
8. Question: Which business plan section outlines the marketing tactics to promote a product or service? a) Financial projections b) Market analysis c) Marketing strategy d) Company overview Answer: c) Marketing strategy
9. Question: What is a break-even analysis used for in a business plan? a) Identifying potential customers b) Calculating potential profits c) Determining the point of profitability d) Analyzing competitor strategies Answer: c) Determining the point of profitability
10. Question: In a business plan, what does the term “SWOT” stand for? a) Strengths, Weaknesses, Opportunities, Threats b) Sales, Workforce, Objectives, Technology c) Strategies, Workflow, Operations, Targets d) Success, Wealth, Objectives, Tactics Answer: a) Strengths, Weaknesses, Opportunities, Threats
11. Question: What is the purpose of an executive summary in a business plan? a) Provide an overview of the company’s history b) Detail the company’s long-term objectives c) Summarize the key points of the entire plan d) Highlight the company’s competitive advantages Answer: c) Summarize the key points of the entire plan
12. Question: Which financing option involves giving up ownership shares of a company in exchange for capital? a) Debt financing b) Equity financing c) Venture capital d) Angel investing Answer: b) Equity financing
13. Question: What does the term “KPI” mean in a business context? a) Key Performance Indicator b) Key Profit Increment c) Key Planning and Implementation d) Key Personnel Improvement Answer: a) Key Performance Indicator
14. Question: What section of a business plan should discuss the company’s organizational structure and management team? a) Market analysis b) Financial projections c) Company overview d) Marketing strategy Answer: c) Company overview
15. Question: What type of business plan primarily targets internal decision-making and planning? a) Startup business plan b) Strategic business plan c) Operational business plan d) Feasibility business plan Answer: c) Operational business plan
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16. Question: What external factor analysis tool helps identify the political, economic, social, and technological influences on a business? a) PEST analysis b) SWOT analysis c) BCG matrix d) Porter’s Five Forces Answer: a) PEST analysis
17. Question: Which statement best describes a vision statement in a business plan? a) Outlines the short-term goals of the company b) Identifies potential risks and challenges c) Describes the company’s future aspirations d) Analyzes the company’s target market Answer: c) Describes the company’s future aspirations
18. Question: What is the purpose of conducting a competitive analysis in a business plan? a) Identify potential partners b) Analyze customer feedback c) Evaluate strengths and weaknesses of competitors d) Forecast financial performance Answer: c) Evaluate strengths and weaknesses of competitors
19. Question: Which financing option involves borrowing money that must be repaid with interest over time? a) Debt financing b) Equity financing c) Venture capital d) Angel investing Answer: a) Debt financing
20. Question: What does the term “ROI” stand for in the context of financial analysis? a) Revenue on Investment b) Return on Innovation c) Risk of Inflation d) Return on Investment Answer: d) Return on Investment
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Business Plan Quiz Questions And Answers
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Take our Business Plan Quiz to measure your knowledge and skills in developing a comprehensive plan that could impress investors and guide your startup to success. This quiz is designed for entrepreneurs, business students, and anyone interested in learning more about business strategy. Our quiz covers all the essential elements of a business plan, including market analysis, operational planning, financial forecasting, and strategic objectives. Each question will challenge you to think critically about the various components that are crucial for a business plan's success, providing a practical understanding of what it takes to compile a viable and effective document. Whether Read more you're preparing to launch your own business, studying business management, or simply curious about the planning process, this quiz will provide valuable insights and help reinforce your understanding of effective business planning. Test your knowledge today with our Business Plan Quiz and take a step closer to realizing your entrepreneurial ambitions!
Business Plan Questions and Answers
What is the component of business plan.
Marketing Strategy
Sales Strategy
Executive Summary
All of the above
Rate this question:
The stockholder may read only the executive summary of a business plan to decide about the investment in that business. State true or false.
___________ in a business plan shows the estimated profit and expenses of the venture..
Financial plan
Revenue model
Accounts payable
None of the above
What is a component(s) of a business plan? (You can choose more than one choice)
Financial Plan
Safety Plan
Operation Plan
Which of these business components help in understanding how the business's plans to expand in the future?
Growth strategy
Competitor's analysis
Company description
Revenue plan
Which of the following is NOT a component of the Business Plan?
Company Description
Competitive Analysis
Marketing Plan
Name the strategy which helps in understanding competitors' marketing strategy.
Marketing analysis
Growth plan
Which of these business statements provides an explanation of the organization's reason for existence?
Executive summary
Objective Statement
Mission Statement
The role of a business plan is to identify potential customers within the target market. The process of dividing up the target market is called ____________.
Market segmentation
Industry Analysis
Marketing plan
Market analysis
In general, how many types of business plans are there?
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Entrepreneurship Management
181. A key aspect of the financial section of the business plan is ______________.
- A statement of management skills.
- A realistic sales forecast.
- Production capacity.
- A description of competitors.
182. Underestimation of project cost leads to ______________.
- Time under run.
- Cost under run
- Time over run.
- Cost over run
183. Which of the following is not an aspect of appraisal of term loans by commercial banks?
- Financial feasibility.
- Technical feasibility.
- Economic feasibility.
- Societal feasibility.
184. DIC is headed by General Manager in the rank of ______________.
- Joint Director of industries.
- Assistant Director of industries.
- Non-departmental officer.
- Departmental officer.
185. Which of the following leads to over-capitalization?
- acquiring fixed assets on excessive amounts.
- under-estimation of initial rate of earnings.
- using lower-rate of capitalization.
- under estimation of required funds.
186. Investment in which of the following is most risky?
- Equity shares.
- Preference shares.
- Debentures.
187. A Company is called an artificial person because ______________.
- it does not have the shape of a natural person.
- it cannot be used in the court of law.
- it is invisible and intangible.
- it exists only in contemplation of law.
188. ______________, which is included in the project cost, is estimated on the basis of the year when the enterprise breaks even.
- working capital
- cost of capital
- cost of production
- cost of equity
189. Business means ______________.
- industry and commerce.
- trade and commerce.
- selling and buying of goods.
190. Large investment is made in fixed assets, the project will be termed as ______________.
- Capital Intensive.
- Labour Intensive.
- Product Intensive.
- Market Intensive.
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NCERT Solutions for Class 6, 7, 8, 9, 10, 11 and 12
Business Studies MCQs for Class 12 with Answers Chapter 4 Planning
December 23, 2019 by Veerendra
Free PDF Download of CBSE Business Studies Multiple Choice Questions for Class 12 with Answers Chapter 4 Planning. Business Studies MCQs for Class 12 Chapter Wise with Answers PDF Download was Prepared Based on Latest Exam Pattern. Students can solve NCERT Class 12 Business Studies Planning MCQs Pdf with Answers to know their preparation level.
Planning Class 12 Business Studies MCQs Pdf
1. Name the function of management which involves setting objectives and developing appropriate courses of action to achieve these objectives. (a) Directing (b) Organising (c) Planning (d) Staffing
2. Which of the following is not a benefit of planning? (a) Planning reduces overlapping and wasteful activities. (b) Planning is a mental exercise. (c) Planning provides directions. (d) Planning reduces the risks of uncertainty.
Answer: b Explanation: (b) Planning is a mental exercise (it is a feature of planning)
3. Which of the following is a benefit of planning? (a) Helps in avoiding confusion and misunderstanding. (b) Ensures clarity in thought and action. (c) Useless and redundant activities are minimised or eliminated. (d) All of the above.
4. Which of the following statements is not true with reference to planning? (a) Planning is a pre-requisite for controlling. (b) Planning does not lead to rigidity. (c) Planning enables a manager to look ahead and anticipate changes. (d) Planning facilitates co-ordination among departments and individuals in the organisation.
Answer: b Explanation: (b) Planning does lead to rigidity.
5. What is known as the primary function of management? (a) Controlling (b) Organising (c) Planning (d) Staffing
Answer: c Explanation: (c) Planning lays down the foundation for all other functions.
6. Which of the following is not a feature of planning? (a) Planning is futuristic. (b) Planning is pervasive. (c) Planning establishes standards for controlling. (d) Planning focuses on achieving objectives.
Answer: c Explanation: (c) it is a point of importance; Planning establishes standards for controlling.
7. All other managerial functions are performed within the framework of the plans drawn. Identify the related feature of planning. (a) Planning focuses on achieving objectives. (b) Planning is pervasive. (c) Planning is futuristic. (d) Planning is primary function of management.
Answer: d Explanation: (d) Planning is the basis for all other functions of management.
8. Planning requires logical and systematic thinking rather than guess work or wishful thinking. Identify the related feature of planning. (a) Planning is futuristic. (b) Planning is a mental exercise. (c) Planning establishes standards for controlling. (d) Planning focuses on achieving objectives.
Answer: b Explanation: (b) Planning is basically an intellectual activity of rational thinking.
9. Planning cannot foresee everything, and thus, there may be obstacles to effective planning. Identify the related limitation of planning. (a) Planning leads to rigidity. (b) Planning may not work in a dynamic environment. (c) Planning does not guarantee success. (d) Planning reduces creativity.
Answer: b Explanation: (b) in business environment, nothing is constant as it consists of a number of dimensions: economic, political, physical, legal and social dimensions.
10. It is not always true that just because a plan has worked before it will work again. Identify the related limitation of planning. (a) Planning leads to rigidity. (b) Planning reduces creativity. (c) Planning may not work in a dynamic environment. (d) Planning does not guarantee success.
Answer: d Explanation: (d) there are so many other unknown factors to be considered.
11. Identify the correct sequence of steps involved in the planning process. (a) Evaluating alternative courses, Identifying alternative course of actions, Setting objectives, Developing premises (b) Setting objectives, Identifying alternative course of actions, Evaluating alternative courses, Developing premises (c) Setting objectives, Developing premises, Identifying alternative course of actions, Evaluating alternative courses (d) Setting objectives, Developing premises, Identifying alternative course of actions, Evaluating alternative courses
12. They represent the end point of planning. (a) Rules (b) Methods (c) Objectives (d) Policies
Answer: c Explanation: (c) All other managerial activities are also directed towards achieving these objectives.
13. A strategy is derived from (a) Policy (b) Objective (c) Method (d) Rule
Answer: b Explanation: (b) a strategy is a comprehensive plan devised for attaining organisational objectives.
14. A strategy is a comprehensive plan which will not include this dimension (a) Determining long term objectives (b) Adopting a particular course of action (c) The ends which the management seeks to achieve by its operations (d) Allocating resources necessary to achieve the objective
Answer: c Explanation: (c) The ends which the management seeks to achieve by its operations – objective
15. They provide a basis for interpreting strategy, which is usually stated in general terms. (a) Policies (b) Procedures (c) Objectives (d) Programmes
Answer: a Explanation: (a) Policies act as a guide to managerial action and decisions in the implementation . of strategy.
16. They detail the exact manner in which any work is to be performed. (a) Rules (b) Methods (c) Procedures (d) Programmes
Answer: c Explanation: (c) procedures are specified in a chronological order
17. It helps to save time, money and effort, and increases efficiency. (a) Procedure (b) Programme (c) Rule (d) Method
18. It is a plan which quantifies future facts and figures. (a) Procedure (b) Programme (c) Rule (d) Budget
Answer: d Explanation: (d) Budget is a numerical plan
19. Which of the following is not a standing plan? (a) Policy (b) Procedure (c) Programme (d) Rule
Answer: c Explanation: (c) Programmes are specific and can be implemented only one time.
20. Which of the following is not a single use plan? (a) Budget (b) Programme (c) Method (d) All of the above
Answer: c Explanation: (c) Methods can be used repetitively to perform routine jobs.
21. Micromax was India’s largest seller of mobile handsets. It launched low-cost Chinese manufacturing with some smart packaging and features like long-lasting batteries and dual-sim functionality to garner 20% market share in India’s value-conscious mobile handset market. Identify the two types of plans being described in the above lines. (a) Strategy and objective (b) Rule and Programme (c) Programme and objective (d) Method and objective
Answer: a Explanation: (a) Strategy and objective
22. According to a survey, these days the young children have more power in purchasing decisions than ever before. The parents seek their kids’ opinions about all kinds of once-adult decisions, including where to go for dinner, what kind of car to buy, even what to wear,”. Therefore, the retailers are adapting to this by enhancing their kids’ sections. If the children want to shop in the store for their clothes, then there’s a greater chance the parent will also see something they want to buy as well. Identify the type of plan being described in the above lines. (a) Programme b) Method (c) Strategy (d) Rule
23. According to a survey of 250 consumer packaged goods (CPG) companies by a reputed firm, 75% of brand owners say they’re going to spend significantly more on packaging as it is critical to their brand’s success. Identify the type of plan being described in the above lines. (a) Rule (b) Programme (c) Strategy (d) Method
24. According to the World Health Organization, 39% of adults are overweight. Consequently in the U.K., a sugar tax was introduced in 2018 on beverages containing more than 5% sugar to curb sugar intake. Identify the type of plan being described in the above lines. (a) Programme (b) Method (c) Strategy (d) Rule
25. According to the Economic Survey, insights from behavioural economics can be strategically utilised to create an aspirational agenda for social change – from BBBP (Beti Bachao Beti Padhao) to BADLAVL (Beti Aapki Dhan Lakshmi Aur Vijay Lakshmi); from Swachh Bharat to Sundar Bharat; from ‘Give It Up’ for the LPG subsidy to ‘Think about the Subsidy’ and from tax evasion to tax compliance. Identify the type of plan being described in the above lines. (a) Programme (b) Method (c) Strategy (d) Rule
26. Shubham wants to increase the sale of his business by 15% in the next quarter. Identify the type of plan being described in the above lines. (a) Method (b) Objective (c) Strategy (d) Programme
27. Packaging is said to have the unique capacity to make products stand out in a crowded marketplace. Therefore, convenience of the consumer is at the top of mind of the marketers as they are focussing on developing packaging that’s easier to open, to protect against breakage, maintain freshness during delivery and keep a consistent look and feel across multiple channels. Identify the type of plan being described in the above lines. (a) Programme (b) Method (c) Strategy (d) Rule
28. Based on National Common Mobility Card standards, India’s first indigenously developed inter-operable transport card was launched in March 2019 to make travel across various modes convenient. Identify the type of plan being described in the above lines. (a) Strategy (b) Programme (c) Method (d) Rule
29. India is world’s third largest domestic aviation market. The government plans to make India a hub for financing aircraft purchases and leasing of planes. In order to promote this, the government has announced tax incentives, like tax deductions, for companies setting up business in IFSC for fifteen years. Identify the type of plan being described in the above lines. (a) Method (b) Strategy (c) Programme (d) Rule
30. The government has been doubling down on its efforts to switch to 100% electric vehicles by 2030. Many companies such as Tata Motors, Kinetic Motors, Maruti Suzuki and Hyundai Motors are all readying their EV models for a 2020 launch in order to support the plan. Identify the type of plan being described in the above lines. (a) Method (b) Strategy (c) Programme (d) Objective
31. In order to encourage technologies like artificial intelligence (AI), the internet of things (iot) and virtual reality (VR), the government is planning to launch a scheme to invite foreign companies through a transparent bidding process, to set up plants for manufacturing semi-conductors, solar photo voltaic cells, lithium cell batteries, solar electric charging vehicles, computer servers, and laptops in India. Identify the type of plan being described in the above lines. (a) Method (b) Strategy (c) Programme (d) Objective
32. Ketan Enterprises adopts different ways to provide training to employees, like Job . Rotation, Coaching, Vestibule Training, Conference, Lecture Method and Role Playing. Identify the type of plan being described in the above lines. (a) Method (b) Strategy (c) Programme (d) Procedure
33. Swatch Ltd. plans to earn a 20% return on its investment in a new project. Identify the type of plan being described in the above lines. (a) Method (b) Strategy (c) Programme (d) Objective
34. Deepak is striving to earn a profit of 30% in the current financial year. Identify the type of plan being described in the above lines. (a) Method (b) Objective (c) Strategy (d) Programme
35. Name the type of budget which is prepared to determine the net cash position. (a) Purchase budget (b) Sales budget (c) Cash budget (d) Production budget
36. In 2019 alone, Swiggy has launched operations in 300 towns and cities. Swiggy follows a two-step sequence while expanding to a small town. First, it provides more laborious training to restaurants and delivery partners compared to their counterparts in the city. Second, it focuses on building scale in operations and increase the restaurant’s reach to a larger base of consumers, including optimizing kitchens, resource planning among others. Identify the type of plan being described in the above lines. (a) Method (b) Strategy (c) Programme (d) Procedure
We hope the given Business Studies MCQs for Class 12 with Answers Chapter 4 Planning will help you. If you have any query regarding CBSE Class 12 Business Studies Planning MCQs Pdf, drop a comment below and we will get back to you at the earliest.
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Business Plan MCQ
Products that are returned make up what is called the __________..
Note: This Question is unanswered, help us to find answer for this one
Production creates _______ utility.
Product design and process selection are examples of _______ decisions., process choice is _________ driven., what financial information is in a balance sheet, what is the purpose of a business plan, an investor can determine ______ from the profit-and-loss statement., a(n) ______ is a two-sentence summary that explains your business quickly., what makes a business pitch compelling, what critical information does the break-even analysis provide, who is the executive summary directed towards, a business model identifies ______., what impression does an investor get from a business plan that is overly optimistic, an investor can determine ______ from the cash flow statement., which statement best describes why entrepreneurs conduct a feasibility analysis, what statement best describes the lean start-up approach to starting a business, when an investor reviews a management team, what are they typically looking for, what is the purpose of the business model canvas, in the business model canvas, a value proposition identifies ______., sources and uses of funds is a _____ used by start-up businesses that shows where capital comes from and what it will be used for., profit-and-loss statement is a financial document that shows , _____ is a financial document that shows sales revenues, expenses, and net profit or loss., feasibility study is a tool for assessing parts of the business plan and determining if the idea will work., executive summary is a condensed abstract of a business plan used to , _____ is a financial document that shows the amount of money a business has on hand at the beginning of a time period., cash flow statement is a financial document that shows :, business plan is a document describing a business that is used to test the feasibility of a business idea _____ as a road map for future operations., business plan is a document describing a business that is used to test the _____ of a business idea, to raise capital, and to serve as a road map for future operations., balance sheet is a financial document that shows the _____ for a business..
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Which of the following is an advantage to a new business start-up of producing a business
It will guarantee survival
It will help test financial viability
It will ensure sales targets are met
It will not need to be referred to again by the business owner
In which section of the business plan would you expect to find details about market size
and market research?
Objectives and key targets
Cash flow forecast
Market overview
Forecast revenue, costs and profit
Which of the following best describes a business plan? A written document that describes:
The business, its objectives, strategies, financial forecasts and market
The marketing plan of the business
The objectives and key targets of the business
How the business will produce its products
Which of the following is the formula for total costs?
Total costs minus total variable costs
Total fixed costs plus total variable costs
Total costs plus total variable costs
Total fixed costs minus total variable costs 5
Which of the following is a drawback of business planning?
Reduces risk by providing a guide for the business
The plan will need to be constantly updated
It will help to secure any finance required
Allows the business to review its progress
Which of the following best defines the term variable cost? A cost which:
Stays the same regardless of output
Changes according to output
Changes with time
Changes according to revenue
An existing business may use a business plan to:
Focus on the business idea before start-up
Present to shareholders at the AGM
Secure external finance for business expansion
To share with employees in the business 5
A business makes a profit when:
Total revenue is greater than total costs
Total revenue is less than total fixed costs
Total revenue is greater than total variable costs
Total revenue is less than total costs
Which of the following is a functional area of a business?
Outsourcing
Selling price x quantity is the formula for which of the following?
Total costs
Variable costs
A business sells 12,000 units per year. Fixed costs per year are £50,000 and variable costs
are £2.50 per unit. The business’s total costs are:
Which of the following is a major problem that an entrepreneur might encounter when
writing a business plan for the first time?
To explain the business idea and where it came from
Forecasting product sales accurately
To include details about the owners
To find an appropriate format to present the plan
Which of the following defines the term revenue?
The money the business makes after total costs are deducted
The money the business makes after variable costs are deducted
The money the business makes from selling its goods or services
The money the business makes after fixed costs are deducted
Details regarding how many staff the business will need to employ, their pay rates and job
descriptions would be found in which section of a business plan?
Human resources
The fixed costs of a business are £300,000 per year and variable costs are £2.00 per unit.
The business sells 200,000 units per year at a selling price of £5.00. The profit made per
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- Ch-3 MCQs for ENTREPRENEURIAL JOURNEY
- MCQs – Ch-4 Entrepreneurship As Innovation And Problem Solving
- Ch-5 MCQs Analysis of Market Env & Market Research
- CH-6 MCQs Unit of sale – Unit cost – Gross Profit
- Unit-2 Entrepreneurial Planning
- Download PDF| Unit-3 Marketing Strategies
- Download PDF | UNIT-4 Enterprise Growth Strategies
- Download PDF | UNIT-6 Resource Mobilization
- Download PDF |Unit 1 ENTREPRENEURSHIP
- Download PDF | Unit-3 Marketing Strategies
- Download PDF| UNIT-4 | Enterprise Growth Strategies
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MCQs – Chapter Planning
Multiple choice questions – chapter planning.
Presenting the Business Studies Class 12 Objective type questions with answers for CBSE 10+2 students for gaining quick marks. These handpicked 25 questions are carefully chosen by our experienced team. Practice these questions here and test your concept learning here.
Q1- What is the essence of planning?
Q2- _____________ seeks to bridge the gap between where we are and where we want to reach?
(a) Organizing (c) Planning
(b) Staffing (d) Directing
Q3- __________ function of management is concerned with both ends and means.
Q4- If ______________ is not taken into consideration, conditions in the environment may change and all business plans may go waste.
(a) Objective (c) Resources
(b) time frame (d) Alternatives
Q5- Define Planning.
Q6- Departments and individuals in the organization are able to work in coordination. Which importance of planning is highlighted in the above statement?
a) Planning provides direction.
b) Planning reduces overlapping and wasteful activities.
c) Planning reduces the risk of uncertainty.
d) Planning facilitates decision making.
Q7- Changes and events cannot be eliminated but they can be anticipated and managerial response to them can be developed. Which importance of planning is highlighted in the above statement?
c) Planning reduces the risk of uncertainty.
Q8- Planning ensures clarity in thought and action, work is carried out smoothly without interruptions. Which importance of planning is highlighted in the above statement?
a) Planning provides direction.
b) Planning reduces the risk of uncertainty.
Q9- Planning involves setting targets and predicting future conditions, thus helping in making a choice. Which importance of planning is highlighted in the above statement?
Q10- With the help of planning managers can know whether they have actually been able to attain the goals. Which importance of planning is highlighted in the above statement?
b) Planning establishes standards for controlling.
Q11-________ concept of Planning throws light on its nature and scope also.
(a) Importance (c) Process
(b) limitations (d) Features
Q12- All other managerial functions are performed within the framework of Planning.
Q13- Which feature of planning is highlighted in the above case?
a) Planning focuses on achieving objectives.
b) Planning is continuous.
c) Planning is the primary function of management.
d) Planning is pervasive.
Q14- A Plan is framed, it is implemented and is followed by another plan and so on.
Which feature of planning is highlighted in the above case?
c) Planning is the primary function of management.
Q15- Sales Forecasting is the basis on which a business firm prepares its annual plan for production and sales. Which feature of planning is highlighted in the above case?
d) Planning is futuristic.
Q16- Planning requires logical and systematic thinking rather than guesswork or wishful thinking.
b) Planning is a mental exercise.
Q17- What do you mean by premises?
Q18- While planning Forecasts regarding the demand for a particular good, policy changes, interest rates, prices of capital goods, tax rates are known as-
a) Objectives. c) Premises.
b) The course of action. d) alternatives.
Q19- What are the qualities of an ideal plan?
Q20- Identify the type of plan which provides broad contours of an organization’s business.
a) Objective b) Policy c) Strategy d) Procedure
Q21- How many suppliers should a company make a purchase from? What are the criteria for choosing suppliers? All these questions can be answered by making one type of plan . Identify the type of plan?
(a) Objective (c) Policy
(b) Strategy (d) Procedure
Q22- ______________ and __________ type of plan are interlinked with each other.
(a) Policy and procedure. (c) Objective and policy.
(b) Policy and Rule. (d) Objective and Method.
Q23- Which type of plan includes the entire gamut of activities as well as the organization’s policy.
Q24- Identify the type of plan which quantifies future facts and figures?
Q25- Which of the following type of plan do not allow for any flexibility or discretion.
(a) Rule b) Policy c) Strategy (d) Procedure
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50+ Unit 2 Solved MCQs
1. | |
A. | They do not reflect the way in which people shape their entrepreneurial visions. |
B. | It can be difficult to explain your vision to other people. |
C. | This approach lacks rigour. |
D. | The process involved can help an entrepreneur to improve their own understanding |
Answer» A. They do not reflect the way in which people shape their entrepreneurial visions. |
2. | |
A. | Societal, commercial, legal, technological, people |
B. | Societal, commercial, legal, technological |
C. | Societal, ethical, commercial, legal, technological |
D. | Societal, commercial, legal, technological, environmental. |
Answer» B. Societal, commercial, legal, technological |
3. | |
A. | Personal - entrepreneurs experience or perceive something that others do not. |
B. | Secondary research - from industry analyses. |
C. | Primary research - from speaking to potential customers to determine their needs. |
D. | Observation - of other peoples' experiences with products and services. |
Answer» A. Personal - entrepreneurs experience or perceive something that others do not. |
4. | |
A. | the introduction of new social practices, activities or ways of organizing. |
B. | the introduction of novelties; the alteration of what is established by the introduction of new elements or forms. |
C. | new designs, processes, marketing approaches, or a new way of conducting training. |
D. | the means by which entrepreneurs exploit change as an opportunity for a different business or service. |
Answer» A. the introduction of new social practices, activities or ways of organizing. |
5. | |
A. | True |
B. | False |
C. | all |
D. | none |
Answer» A. True |
6. | |
A. | True |
B. | False |
C. | all |
D. | none |
Answer» B. False |
7. | |
A. | Winner |
B. | Loser |
C. | Mediocre |
D. | Average |
Answer» D. Average |
8. | |
A. | Creating new ties |
B. | Renewing and pruning existing ties |
C. | Developing existing ties |
D. | Extending existing ties |
Answer» A. Creating new ties |
9. | |
A. | Good relations |
B. | Weak ties |
C. | Strong ties |
D. | Unique connections |
Answer» C. Strong ties |
10. | |
A. | Environmental forecasting |
B. | Market research |
C. | Product analysis |
D. | Customer understanding |
Answer» B. Market research |
11. | |
A. | Mass media, passive reception, customer resistance |
B. | Low cost, word-of-mouth |
C. | Informal, personal and strongly interactive |
D. | Guerrilla marketing and ambush marketing |
Answer» C. Informal, personal and strongly interactive |
12. | |
A. | True |
B. | False |
C. | all |
D. | none |
Answer» B. False |
13. | |
A. | Business possibilities |
B. | Commercially feasible projects |
C. | Risky projects |
D. | Favourable market demand |
Answer» B. Commercially feasible projects |
14. | |
A. | Very slow |
B. | Perceived comfort zone |
C. | Very rapid |
D. | Rapid |
Answer» D. Rapid |
15. | |
A. | Increase in production |
B. | Rapid increase in production |
C. | Rapid increase in sales |
D. | Increase in sales |
Answer» D. Increase in sales |
16. | |
A. | Short-term arrangement |
B. | Continuous process |
C. | Long-term process |
D. | None of the above |
Answer» C. Long-term process |
17. | |
A. | Supply potential |
B. | Demand potential |
C. | Export potential |
D. | Import potential |
Answer» B. Demand potential |
18. | |
A. | Funding requirement |
B. | Material requirement |
C. | Labour requirement |
D. | Resource requirement |
Answer» D. Resource requirement |
19. | |
A. | Minimise the cost of production |
B. | Minimise the distribution cost |
C. | Minimise the cost of capital |
D. | None of the above |
Answer» C. Minimise the cost of capital |
20. | |
A. | Generally |
B. | Exceptionally |
C. | All of the above |
D. | None of the above |
Answer» B. Exceptionally |
21. | |
A. | True |
B. | False |
C. | all |
D. | none |
Answer» A. True |
22. | |
A. | The system of components, linkages and associated dynamics, which that make commercial advantage of the Internet. |
B. | A business model describes the rationale of how an organization creates, delivers and captures value. |
C. | Business models identify where the resources necessary to establish a venture will come from. |
D. | Business models describe, as a system, how the pieces fit together. |
Answer» C. Business models identify where the resources necessary to establish a venture will come from. |
23. | |
A. | The entrepreneurial process starts with creativity and the task of generating new ideas. |
B. | The creativity process starts with innovation and the task of generating new ideas. |
C. | The idea generation process starts with creativity and the task of innovation. |
D. | The innovation process starts with creativity and the task of generating new ideas. |
Answer» D. The innovation process starts with creativity and the task of generating new ideas. |
24. | |
A. | Customers and competitors |
B. | Customers and potential customers |
C. | Customers, competitors and suppliers |
D. | Customer, competitors, suppliers and regulators |
Answer» B. Customers and potential customers |
25. | |
A. | One stage |
B. | Two stage |
C. | Three stage |
D. | Four stage |
Answer» D. Four stage |
26. | |
A. | Sample development |
B. | Idea development |
C. | Prototype Development |
D. | None of the above |
Answer» C. Prototype Development |
27. | |
A. | Micro activities of the project |
B. | Macro activities of the project |
C. | Allied activities of the project |
D. | Individual activities of the project |
Answer» A. Micro activities of the project |
28. | |
A. | Formal investigation of profitable opportunity |
B. | Informal investigation of profitable opportunities |
C. | Intensive investigation of profitable opportunities |
D. | None of the above |
Answer» A. Formal investigation of profitable opportunity |
29. | |
A. | Product idea is used as a basis for project idea |
B. | Project idea is used as a basis for product idea |
C. | Both are the same |
D. | None of the above |
Answer» A. Product idea is used as a basis for project idea |
30. | |
A. | Entrepreneur’s own interests |
B. | Economic development of the country |
C. | Business environment of the country |
D. | None of the above |
Answer» A. Entrepreneur’s own interests |
31. | |
A. | proprietorship |
B. | partnership |
C. | INC |
D. | corporation |
Answer» B. partnership |
32. | |
A. | Potential for double taxation |
B. | Less governmental control |
C. | Ease of formation |
D. | Direct share of profits |
Answer» A. Potential for double taxation |
33. | |
A. | Limited continuality of life of enterprise |
B. | Extensive government regulations of activities |
C. | High incorporation fees |
D. | Corporate capital, profits, dividends, and salaries are double taxed |
Answer» A. Limited continuality of life of enterprise |
34. | |
A. | Equity |
B. | Commercial loans |
C. | Personal finances provided by friends |
D. | Venture capitalists |
Answer» D. Venture capitalists |
35. | |
A. | Franchise |
B. | Spin-off |
C. | Intrapreneurship |
D. | Extrapreneurship |
Answer» B. Spin-off |
36. | |
A. | Diversification |
B. | Intrapreneurship |
C. | Trade-off |
D. | Franchise |
Answer» A. Diversification |
37. | |
A. | Cutting of losses |
B. | Culture |
C. | Benchmarking |
D. | Customer orientation |
Answer» B. Culture |
38. | |
A. | Established market for the product |
B. | Management assistance in operating the business |
C. | Economies of scale for purchasing |
D. | Oversale of rights |
Answer» A. Established market for the product |
39. | |
A. | replication of an existing business |
B. | trade journals |
C. | trade shows |
D. | family members |
Answer» A. replication of an existing business |
40. | |
A. | Business plan formulation |
B. | Obtaining financing |
C. | Selecting the type of legal structure |
D. | Hiring a partner |
Answer» D. Hiring a partner |
41. | |
A. | Poor implementation |
B. | Lack of capital |
C. | Adequate financial support |
D. | Faulty product design |
Answer» C. Adequate financial support |
42. | |
A. | business alliance |
B. | spin-off |
C. | intrapreneurship |
D. | competitor analysis |
Answer» C. intrapreneurship |
43. | |
A. | proprietorship |
B. | partnership |
C. | INC |
D. | corporation |
Answer» B. partnership |
44. | |
A. | Entrepreneurship |
B. | Innovation |
C. | Spin-off |
D. | Variance |
Answer» B. Innovation |
45. | |
A. | is the same thing as a business plan. |
B. | is longer than a business plan. |
C. | has a lot of computer-based spreadsheets. |
D. | focuses on the opportunity, not the venture. |
Answer» D. focuses on the opportunity, not the venture. |
46. | |
A. | How much capital do I need? |
B. | What market need does it fill? |
C. | What business skills do I have? |
D. | Can a patent be obtained? |
Answer» A. How much capital do I need? |
47. | |
A. | The business plan describes both internal and external elements. |
B. | The preliminary business plan should be prepared by a lawyer. |
C. | Most business plan resources on the Internet are too complex and expensive to be of use to the new venture. |
D. | Once made, a business plan should not be changed. |
Answer» A. The business plan describes both internal and external elements. |
48. | |
A. | Competitors |
B. | Lenders |
C. | Investors |
D. | Suppliers |
Answer» A. Competitors |
49. | |
A. | The target audience. |
B. | The size and scope of the new venture. |
C. | The experience of the entrepreneur. |
D. | The amount of capital needed. |
Answer» B. The size and scope of the new venture. |
50. | |
A. | investors |
B. | employees |
C. | vendors |
D. | lenders |
Answer» D. lenders |
51. | |
A. | character |
B. | experience |
C. | financial records |
D. | personal viewpoint |
Answer» A. character |
52. | |
A. | Statement of cash flows |
B. | Income statement |
C. | Price lists from suppliers |
D. | Projected balance sheet |
Answer» C. Price lists from suppliers |
53. | |
A. | Assessment of risk |
B. | Financial planning |
C. | Alternative planning analysis |
D. | The financial plan |
Answer» A. Assessment of risk |
54. | |
A. | what are total industry sales over the past five years? |
B. | Who are the nearest competitors? |
C. | What is my promotional strategy? |
D. | What is anticipated growth in this industry? |
Answer» C. What is my promotional strategy? |
Done Reading?
- Question and answers in Unit 2,
- Unit 2 multiple choice questions and answers,
- Unit 2 Important MCQs,
- Solved MCQs for Unit 2,
- Unit 2 MCQs with answers PDF download
Business Management MCQs
Business management mcqs topics.
General MCQs
Strategic Management and Planning MCQs
Leadership in Management MCQs
Business Plan MCQs
Principles of Management MCQs
Try to answer these 900+ Business Management MCQs and check your understanding of the Business Management subject. Scroll down and let's begin!
1: Which of the following is not a function of management?
A. planning
B. staffing
C. co-operation
D. controlling
2: Management is
A. an art
B. a science
C. both art and science
D. neither
3: Policy formulation is the function of
A. top level management
B. middle level management
C. operational management
D. All of the above
4: Find the odd one out
A. board of directors
B. chief executive
C. foremen
D. shareholders
5: How are principles of management formed
A. In a laboratory
B. By experiences of management
C. By experiences of customers
D. By propagation of social scientists
6: Henry Fayol was a
A. Social scientists
B. Mining engineer
C. Accountant
D. Production engineer
7: Which of the following statement best described the principle of 'Division of work '
A. work should be divided into small tasks
B. labour should be divided
C. resource should be divided among jobs
D. it leads to specialisation
8: Which of the following is Not a principle of management given by Taylor
A. Science, not rule of Thumb
B. Functional foremanship
C. Maximum ,not restricted output
D. Harmony not discord
9: The principals of management are significant because of
A. increase in efficiency
B. Initiative
C. optimum utilisation of resources
D. Adaptation of changing technology
10: Management should find ' One best way ' to perform a task. Which technique of Scientific management is defined in this sentence
A. Time study
B. Motion study
C. Fatigue study
D. Method study
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11: Which among the following is not a subsidiary function of management?
A. Decision making
B. Innovation
C. Communication
D. Motivation
12: Who is known as the father of scientific management?
A. F.W. Taylor
B. Max Weber
C. Henry Fayol
D. S.George
13: management is need at ..............
A. Top level
B. Middle level
C. lower level
D. all levels
14: Top management is concerned with ...................
A. carrying suggestions upwards
B. maintaining liaison with the outside world
C. transmitting orders downwards
D. none of these
15: management is called a process because .............
A. it is applicable to the manufacturing process
B. it is relevant for social organisation
C. it involves a series of action
D. All of above
16: Administration is.............
A. policy making
B. Active direction to get things done
C. executing the policy
D. None of these
17: management is...............
A. tangible
B. intangible
C. fictitious
18: middle management ...........
A. consists of departmental managers
B. motivates lower management
C. Both a&b
19: Top management consists of .......
A. financial managers
B. sales manager
C. personnel manager
D. Board of Directors and chief executives
20: co-ordination means.............
A. organising activities
B. Directing activities
C. synchronizing activities
D. both a&b
21: unity of command implies
A. A subordinate should receive orders from all the superiors
B. individuals must sacrifice in the larger interest
C. be accountable to one and only one superior
22: purpose of time study is.............
A. to remove wastage of time
B. to give timely assistance
C. to determine fair days work
D. watching time
23: The scientific technique of task setting is known as........................
A. work study
B. motion study
C. time study
D. method study
24: scientific analysis of work under scientific management requires.......
A. ime study
D. work study
25: Authority refers to....................
A. Getting work done
B. right to get work done
C. being in a managerial position
D. scalar chain
26: Which among the following involves in planning process?
A. Selection of objective
B. determine the way to achieve objective
C. both A and B
D. None of the above
27: Which among the following is a single use plan?
A. Objectives
B. Policies
C. Rules
D. Budget
28: _______________ is a time table of work ?
A. Budget
B. Project
C. Programmes
D. Schedules
29: Which among the following is not an element of co-ordination
A. integration
B. balancing
C. proper timing
D. directing
30: Find the odd one out
A. goals
B. objective
C. polices
D. motivation
31: planning involves.................
A. future course of action
B. review of past performance
C. analysis of policies
D. All of these
32: planning provides...............
A. information to outsiders
B. basis for recruitment and selections
C. purpose and direction of all persons
33: operational planning is undertaken at ..................
B. lower level
34: ....................... are guides to action
A. strategy
B. planning
C. policies
D. procedure
35: ................ as a special type of plan prepared for meeting the challenges of competitors and other environmental forces
A. policies
B. objectives
C. strategy
36: ................. are goals established to guide the efforts of the company and each of its components
A. objectives
B. strategy
37: ................ is also known as management by result
A. management by subordinate
B. management by objectives
C. management by art
D. management by planning
38: ............. co-ordination refers to the description of the behaviour and relationships of the organisation
A. vertical
B. Horizontal
C. procedural
D. substantive
39: ................ is a systematic way of handling regular events
A. procedure
B. rules
D. strategy
40: Which among the following is not the principles of organisation?
A. Unity of objectives
B. Specialisation
C. Span of control
D. Initiative
41: organising is.....................
A. A remedy for all types of problems
B. ensure accurate forecasting
C. None of these
42: Organising process involves.........
A. division of work
B. grouping of identical work
C. All of these
43: Formal organisation is..................
A. created by management
B. A result of social interaction
C. To satisfy cultural needs
44: organising deals with ...............
B. decentralising activities
C. centralisation activities
45: The process of organising consists of...........................
A. division of work into job
B. establishing authority relationships
46: Getting work done
C. being in a management position
47: principles of specialisation requires................
A. Division of labour
B. centralisation of work
C. decentralisation of work
48: Delegation is................
A. Getting things done by others
B. fixing of responsibility
C. Assigning the task
D. unity of command
49: Accountability means..........
A. Delegation
B. responsibility
C. Authority
D. Answerability
50: Which of the following is not an element of delegation
A. accountability
B. authority
C. responsibility
D. responsibility
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Helping our customers through the CrowdStrike outage
Jul 20, 2024 | David Weston - Vice President, Enterprise and OS Security
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On July 18, CrowdStrike, an independent cybersecurity company, released a software update that began impacting IT systems globally. Although this was not a Microsoft incident, given it impacts our ecosystem, we want to provide an update on the steps we’ve taken with CrowdStrike and others to remediate and support our customers.
Since this event began, we’ve maintained ongoing communication with our customers, CrowdStrike and external developers to collect information and expedite solutions. We recognize the disruption this problem has caused for businesses and in the daily routines of many individuals. Our focus is providing customers with technical guidance and support to safely bring disrupted systems back online. Steps taken have included:
- Engaging with CrowdStrike to automate their work on developing a solution. CrowdStrike has recommended a workaround to address this issue and has also issued a public statement. Instructions to remedy the situation on Windows endpoints were posted on the Windows Message Center .
- Deploying hundreds of Microsoft engineers and experts to work directly with customers to restore services.
- Collaborating with other cloud providers and stakeholders, including Google Cloud Platform (GCP) and Amazon Web Services (AWS), to share awareness on the state of impact we are each seeing across the industry and inform ongoing conversations with CrowdStrike and customers.
- Quickly posting manual remediation documentation and scripts found here .
- Keeping customers informed of the latest status on the incident through the Azure Status Dashboard here .
We’re working around the clock and providing ongoing updates and support. Additionally, CrowdStrike has helped us develop a scalable solution that will help Microsoft’s Azure infrastructure accelerate a fix for CrowdStrike’s faulty update. We have also worked with both AWS and GCP to collaborate on the most effective approaches.
While software updates may occasionally cause disturbances, significant incidents like the CrowdStrike event are infrequent. We currently estimate that CrowdStrike’s update affected 8.5 million Windows devices, or less than one percent of all Windows machines. While the percentage was small, the broad economic and societal impacts reflect the use of CrowdStrike by enterprises that run many critical services.
This incident demonstrates the interconnected nature of our broad ecosystem — global cloud providers, software platforms, security vendors and other software vendors, and customers. It’s also a reminder of how important it is for all of us across the tech ecosystem to prioritize operating with safe deployment and disaster recovery using the mechanisms that exist. As we’ve seen over the last two days, we learn, recover and move forward most effectively when we collaborate and work together. We appreciate the cooperation and collaboration of our entire sector, and we will continue to update with learnings and next steps.
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Test your Business Plan knowledge with our multiple-choice quiz. These Business Plan MCQ questions answers are a fun way to test your knowledge.
Study with Quizlet and memorize flashcards containing terms like Purpose of Business plan, Business plan, Sections of business plan and more.
Part 1: 30 business plan quiz questions & answers. 1. Question: What is the primary purpose of a business plan? 2. Question: Which section of a business plan outlines the company's mission and vision? 3. Question: Which of the following is NOT a common business plan component?
Our quiz covers all the essential elements of a business plan, including market analysis, operational planning, financial forecasting, and strategic objectives. Each question will challenge you to think critically about the various components that are crucial for a business plan's success, providing a practical understanding of what it takes to compile a viable and effective document.
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Multiple choice Questions on Entrepreneurship Management. Practice for BBA or MBA exams using these MCQ. Page 19.
Free PDF Download of CBSE Business Studies Multiple Choice Questions for Class 12 with Answers Chapter 4 Planning. Business Studies MCQs for Class 12 Chapter Wise with Answers PDF Download was Prepared Based on Latest Exam Pattern. Students can solve NCERT Class 12 Business Studies Planning MCQs Pdf with Answers to know their preparation level.
Quizack provides the latest Business Planning MCQs. Business Planning multiple choice questions prepare you for an IT exam, Interview, or Employment test.
Solved MCQs for Unit 3, with PDF download and FREE mock test
Learn and test your knowledge with our Business Planning MCQs. These Free Business Planning multiple-choice questions and answers are presented in quiz format, so test your skill in an engaging and interactive way.
Study with Quizlet and memorize flashcards containing terms like Business Plan, Title Page, Table of Contents and more.
Business Plan MCQs: Learn Business Management Chapterwise. Quizack made these Business Plan multiple choice questions to enhance your Business Management knowledge.
1 pt. Which of the following best describes a business plan? A written document that describes: The business, its objectives, strategies, financial forecasts and market. The marketing plan of the business. The objectives and key targets of the business. How the business will produce its products.
In the context of this course, which of the following is NOT mentioned as one of the purposes of a business plan?
assessing the feasibility of a business or project. ? setting objectives and budgets. ? Though this knowledge is important, writing a business plan involves much more than this. ? calculating how much money is needed. Managers and investors are generally looking for the same things in a business plan. True/False?
Study with Quizlet and memorize flashcards containing terms like Writing a business plan, The main body of a business plan includes which of the following?, A business plan is not intended for and more.
Entrepreneurial management entrepreneurial mcq sheet question which one of the following is not an important activity of business plan in new venture?
Important Business Studies class 12 CBSE objective questions with answers for chapter Planning. MCQs on other chapters like Principle of Management & more.
Study with Quizlet and memorize flashcards containing terms like business plan, executive summary, management team plan and more.
A. The system of components, linkages and associated dynamics, which that make commercial advantage of the Internet. B. A business model describes the rationale of how an organization creates, delivers and captures value. C. Business models identify where the resources necessary to establish a venture will come from.
MCQs: Q.1: Which is not a component of specific forces of the business environment? Customers. Technological conditions. Investors. Employees. Answer: B, Technological conditions. Explanation: Technological condition is a component of general forces that affect the business environment of an enterprise.
Study with Quizlet and memorize flashcards containing terms like 1. Business Analysis and Project Management have the following job specifications in common EXCEPT: a)They are both aware of the overall project's goals and objectives b)They both communicate with stakeholders c)They can both begin at any time in the project lifecycle d)They are both involved in the development of viable ...
Learn and test your knowledge with our Business Management MCQs. These Free Business Management multiple-choice questions and answers are presented in quiz format, so test your skill in an engaging and interactive way.
On July 18, CrowdStrike, an independent cybersecurity company, released a software update that began impacting IT systems globally. Although this was not a Microsoft incident, given it impacts our ecosystem, we want to provide an update on the steps we've taken with CrowdStrike and others to remediate and support our customers. Since this event began,...