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What is the main benefit of preparing a business plan?

Answer and explanation

Correct answer: It gives direction and clarity to work

A business plan sets out the enterprise’s objectives, target market, offering, operations, resources, expected costs, and possible revenue. It gives direction and helps the entrepreneur assess feasibility and prepare for risks, although it cannot guarantee success. Therefore option A is correct. It cannot automatically eliminate expenses, attract customers, or remove every risk.

Related tags

Business-PlanPlanningEntrepreneurship DevelopmentMsme And Business EntrepreneurshipBusiness StudiesClass 11 Mcq

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