ENTREPRENEURIAL PLANNING
BUSINESS PLAN DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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In a business plan, it is NOT important to describe the industry in which you will operate
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True
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False
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Either A or B
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None of the above
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Explanation:
Detailed explanation-1: -A business plan is a very important and strategic tool for entrepreneurs. A good business plan not only helps entrepreneurs focus on the specific steps necessary for them to make business ideas succeed, but it also helps them to achieve short-term and long-term objectives.
Detailed explanation-2: -Planning can be an excuse for inaction. You get to enjoy the fantasy of success in your imagination without the effort required to achieve that success in the real world. This is not to say that you don’t need some idea of what you’re doing and in what order, but planning just to plan is wasted effort.
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