ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -figures out how to make her business work. meets his target revenue goals. achieves her expense projections.

Detailed explanation-2: -A business plan is essential as an entrepreneur. It helps you set clear goals and guidelines for how you will manage your business. A business plan may also be needed to set employee goals, obtain funding or even to sell your business one day.

Detailed explanation-3: -A business plan is a document that outlines your business’s financial goals and explains how you’ll achieve them. A strong, detailed plan will provide a road map for the business’s next three to five years, and you can share it with potential investors, lenders or other important partners.

Detailed explanation-4: -The primary purpose of a business plan is to establish your plans for the future. These plans should include goals or milestones alongside detailed steps of how your company will reach each step. The process of creating a roadmap to your goals will help you determine your business focus and pursue growth.

Detailed explanation-5: -A business plan should describe every aspect of your business, from the product or service you offer to your finances, management, and marketing plans. It’s designed to tell your stakeholders-potential lenders, investors, and suppliers, for example-the goals of your business and how you plan to achieve them.