ENTREPRENEURIAL PLANNING
BUSINESS PLAN DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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it explains your idea for a product or service
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it sets specific objectives and describes how they will be achieved
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it describes the backgrounds and experiences people who will run the business
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all answers are correct
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Detailed explanation-1: -What is the purpose of a Business Plan? ✓ The purpose of a Business Plan is to identify, describe and analyze a business opportunity and/or a business already under way, examining its technical, economic and financial feasibility.
Detailed explanation-2: -The primary purpose of a business plan is to secure funding. With funding, a business can operate and grow. Investors and lenders want to see a well-written business plan that clearly outlines the market opportunity, the competitive landscape, the team’s qualifications, and the financial projections.
Detailed explanation-3: -Main Components of a Business Plan It may include a table of contents, company background, market opportunity, management overviews, competitive advantages, and financial highlights.