Business Planning Practice Exam

About Business Planning
Business planning takes place when the key stakeholders in a business sit down and flesh out all the goals, strategies, and actions that they envision taking to ensure the business’s survival, prosperity, and growth.

Why is Business Planning important?
The benefits of business planning are
•    See the whole business. Business planning done right connects the dots in your business so you get a better picture of the whole. Strategy is supposed to relate to tactics with strategic alignment. Does that show up in your plan? Do your sales connect to your sales and marketing expenses? Are your products right for your target market? Are you covering costs including long-term fixed costs, product development, and working capital needs as well? Take a step back and look at the larger picture.
•    Strategic Focus. Startups and small business need to focus on their special identities, their target markets, and their products or services tailored to match.
•    Set priorities. You can’t do everything. Business planning helps you keep track of the right things, and the most important things. Allocate your time, effort, and resources strategically.
•    Manage change. With good planning process you regularly review assumptions, track progress, and catch new developments so you can adjust. Plan vs. actual analysis is a dashboard, and adjusting the plan is steering.
•    Develop accountability. Good planning process sets expectations and tracks results. It’s a tool for regular review of what’s expected and what happened. Good work shows up. Disappointments show up too. A well-run monthly plan review with plan vs. actual included becomes an impromptu review of tasks and accomplishments.

Who should take the Business Planning Exam?
•    Business  professionals
•    Business owners
•    Entrepreneurs or Innovators
•    Anyone who wants to assess their business planning skills
•    Entrepreneurs who are thinking of starting a business
•    Business owners who want to grow an existing business or solve an operating problem
•    Business consultants
•    Students

Knowledge and Skills required for the Business Planning

Candidates gain quick success if they have skills of critical thinking and good communication skills.

Business Planning Practice Exam Objectives

Business Planning exam focuses on assessing your skills and knowledge in strategic management and business strategy.

Business Planning Practice Exam Pre-requisite

There are no prerequisites for the Business Planning exam. Candidates who are well versed  in Business Planning can easily clear the exam.

Business Planning Certification Course Outline
1. Introduction to Business Strategy
1.1 Definition of Strategy
1.2 Origins of Strategy Management
1.3 Is Strategy static in nature or dynamic?

2. Introduction to Strategic Management
2.1 Strategic Management Processes
2.2 Strategic Management Process in an Organization
2.3 Benefits of Strategic Management
2.4 Top Management Decisions on Strategic Issues
2.5 Strategic Issues Likely to Have Long Term Impact
2.6 Strategies Are Essentially For The Future
2.7 Elements In Strategic Management Process
2.8 Comprehensive Model of Strategic Management
2.9 Process of Strategic Management


3. Business Planning
3.1 Develop Business Strategy
3.2 Build Marketing Strategy
3.3 Develop Operational Plan
3.4 Design and Development Plan
3.5 Human Resources Plan
3.6 Social Responsibility Strategy
3.7 E-Business Strategy
3.8 Financial Forecasts
3.9 Business Exit Strategy

Exam Format and Information
Certification name – Business Planning Certification
Exam duration – 60 minutes
Exam type - Multiple Choice Questions
Eligibility / pre-requisite - None
Exam language - English
Exam format - Online
Passing score - 25
Exam Fees  - INR 1199