GK
BUSINESS MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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a business plan forces a firm’s founders to systematically think through each aspect of their new venture.
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a business plan provides lenders and investors assurance that they will earn a decent return
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a business plan provides an investor with something to react to.
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a business plan is a selling document that enables a company to present itself to potential suppliers and business partners
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Detailed explanation-1: -A business plan is important for all of the following reasons EXCEPT: a business plan forces a firm’s founders to systematically think through each aspect of their new venture.
Detailed explanation-2: -A good business plan guides you through each stage of starting and managing your business. You’ll use your business plan like a GPS for how to structure, run, and grow your new business. It’s a way to think through and detail all the key elements of how your business will run.
Detailed explanation-3: -Rather, she explained, at the most basic level it really only needs three key elements: a financial plan, a basic understanding of the competitive landscape, and a clear definition of the company’s values, vision and mission.
Detailed explanation-4: -It will help you steer your business as you start and grow. Think of a business plan as a GPS to get your business going. It’s not as hard as you think. It will help you to reach business milestones. It can help you get funding. There’s no wrong way to write a business plan. 10-Dec-2018