BUISENESS MANAGEMENT
BUSINESS PLANNING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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It includes sales goals for at least 10-12 years into the future.
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It set specific business objectives.
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It explains the idea behind the business.
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It describes the backgrounds and experience of the business’s leadership team.
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Detailed explanation-1: -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.
Detailed explanation-2: -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-3: -1 Answer. An operational plan section is not included in a business plan.
Detailed explanation-4: -The executive summary, marketing plan, key management bios, and financial plan business plan sections are critical and should be included in all business plans. Additional sections can be added to these four when targeting specific purposes and audiences.