BUISENESS MANAGEMENT
BUSINESS PLANNING
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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: -A good business plan guides you through each stage of starting and managing your business. You’ll use your business plan as a roadmap for how to structure, run, and grow your new business. It’s a way to think through the key elements of your business.
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.
There is 1 question to complete.