INTRODUCTION TO ENTREPRENEURSHIP
ENTREPRENEURIAL PROCESS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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From the Business Plan video, what does the Business Details section of an entrepreneur’s business plan contain?
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A summary of the other parts of the business plan
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Describes who you are, what you plan to sell, why, and to whom.
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Demonstrates that you understand your target market, why people will buy what you plan to sell and detail how you plan to sell to them
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Discusses your management team and personnel, your credentials, and who you plan to recruit.
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Explanation:
Detailed explanation-1: -A business plan should describe every aspect of your business, from the product or service you offer to your finances, management, and marketing plans. It’s designed to tell your stakeholders-potential lenders, investors, and suppliers, for example-the goals of your business and how you plan to achieve them.
Detailed explanation-2: -A business plan is a detailed document that sets out a company’s purpose, vision, marketing objectives, financial plans, resource needs and how it will achieve its goals. It essentially works as a roadmap or a guide to how the company will function and can be a valuable tool for attracting potential investors too.
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