Certified Hospitality Manager (CHM) Practice Exam

Disable ads (and more) with a membership for a one time $2.99 payment

Prepare for the Certified Hospitality Manager Test. Utilize flashcards and multiple-choice questions, each with hints and explanations. Excel in your exam preparation!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

What is the typical time frame for a business plan?

6 months
12 months
18 months
24 months

The correct answer is: 12 months

A business plan typically covers a time frame of around 12 months because it is often designed to guide a company's strategies and objectives over the upcoming year. This time frame allows businesses to set realistic goals, allocate resources effectively, and adapt to market changes in a manageable period. A 12-month plan provides a clear roadmap that can be reviewed and updated regularly, ensuring alignment with changing business conditions and evolving market demands. While shorter plans, like those lasting around 6 months, can be useful for very dynamic industries or startups needing rapid iteration and feedback, they generally lack the depth for long-term strategy. Conversely, longer plans, such as those extending to 18 or 24 months, may become less relevant as they can lead to outdated strategies if significant changes occur in the business environment or competitive landscape. Therefore, a 12-month plan strikes an effective balance between flexibility and long-term planning.