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Why is a business plan prepared?

Answer and explanation

Correct answer: To guide the work in the right direction

A business plan states the venture's objectives, proposed activities, resources, market approach, and expected financial needs. It gives direction and helps the entrepreneur coordinate time, money, and people while anticipating challenges. It is not prepared to confuse customers, increase risk deliberately, or hide resources.

Related tags

Business-PlanPlanningEntrepreneurshipEntrepreneurship DevelopmentMsme And Business EntrepreneurshipBusiness StudiesClass 11 Mcq

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