BUSINESS ADMINISTRATION
ENTREPRENEURIAL DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Written document that only outlines the business practices of the new business.
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Written document that describes the financial aspects of the business.
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Written document that only describes the ownership of the business.
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Written document that describes all the steps necessary for opening and operating a successful business.
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Detailed explanation-1: -A business plan is a document that defines in detail a company’s objectives and how it plans to achieve its goals. A business plan lays out a written road map for the firm from marketing, financial, and operational standpoints. Both startups and established companies use business plans.
Detailed explanation-2: -A business plan is a document describing a business, its products or services, how it earns (or will earn) money, its leadership and staffing, its financing, its operations model, and many other details essential to its success.
Detailed explanation-3: -A business plan is an essential written document that provides a description and overview of your company’s future. All businesses should have a business plan. The plan should explain your business strategy and your key goals to get from where you are now to where you want to be in the future.
Detailed explanation-4: -According to Investopedia, “A business plan is a written document that describes in detail how a business-usually a startup-defines its objectives and how it is to go about achieving its goals. A business plan lays out a written roadmap for the firm from marketing, financial, and operational standpoints.”