ENTREPRENEURIAL PLANNING
BUSINESS PLAN DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is an advantage to a new business start-up of producing a business plan?
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It will guarantee survival
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It will help test financial viability
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It will ensure sales targets are met
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It will not need to be referred to again by the business owner
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Explanation:
Detailed explanation-1: -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.
Detailed explanation-2: -Sets objectives and benchmarks: Proper planning helps a business set realistic objectives and assign stipulated time for those goals to be met. Maximizes resource allocation: A good business plan helps to effectively organize and allocate the company’s resources. More items •20-Feb-2023
There is 1 question to complete.