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Why is a business plan used?

Answer and explanation

Correct answer: To provide clear direction for the business’s goals, activities, and strategies

A business plan organises important information about a venture, including its objectives, customers, product or service, operations, resources, budget, marketing approach, and possible risks. It guides decisions and helps communicate the idea to potential supporters. It is not meant to hide problems or encourage spending without planning.

Related tags

Business PlanEntrepreneurshipEnterprise PlanningEntrepreneurship DevelopmentMsme And Business EntrepreneurshipBusiness StudiesClass 11 Mcq

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