ENTREPRENEURIAL PLANNING
BUSINESS PLAN DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The purpose of business planning is to provide data and list actions needed to answer a business question
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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 used to help manage an organisation by stating ambitions, how they will be achieved, and exactly when. The plan will also help summarise what the business is about, why it exists, and where it will get to.
Detailed explanation-2: -The 3 most important purposes of a business plan are 1) to create an effective strategy for growth, 2) to determine your future financial needs, and 3) to attract investors (including angel investors and VC funding) and lenders.
Detailed explanation-3: -Explanation: The production of a business plan is likely to help (not hinder) the achievement of business aims and objectives and minimise the chance of the business failing.
There is 1 question to complete.