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 not a purpose of a business plan?
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To explain how your product or service will be produced
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To describe how you expect to achieve specific objectives
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To describe how you will locate reliable suppliers
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To spell out how your product or service will be sold
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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: -a business plan provides an investor with something to react to. a business plan is a selling document that enables a company to present itself to potential suppliers and business partners.
Detailed explanation-3: -To raise money for your business. Potential investors or lenders want a written business plan before they give you money. To make sound decisions. To help you identify any potential weaknesses. To communicate your ideas with stakeholders.
There is 1 question to complete.