What is the main benefit of writing goals in a business plan?
Answer and explanation
Correct answer: It helps set direction and measure progress
Written goals translate a broad business intention into specific results that can guide actions and priorities. When goals have measurable indicators and deadlines, the entrepreneur can compare actual progress with the plan and take corrective action. Planning does not remove every risk, guarantee profit, or eliminate the need to understand customers.
Frequently asked questions
What is the correct answer to this question?
It helps set direction and measure progress
Why is this the correct answer?
Written goals translate a broad business intention into specific results that can guide actions and priorities. When goals have measurable indicators and deadlines, the entrepreneur can compare actual progress with the plan and take corrective action. Planning does not remove every risk, guarantee profit, or eliminate the need to understand customers.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
