What is the main purpose of a business plan?
Answer and explanation
Correct answer: To give a clear path for running the business
A business plan describes the proposed business, its objectives, customers, products or services, resources, operations, marketing approach, expected costs, and possible sources of finance. It provides direction and helps evaluate feasibility before action. Therefore option A is correct; ignoring customers or expenses defeats the purpose of planning.
Frequently asked questions
What is the correct answer to this question?
To give a clear path for running the business
Why is this the correct answer?
A business plan describes the proposed business, its objectives, customers, products or services, resources, operations, marketing approach, expected costs, and possible sources of finance. It provides direction and helps evaluate feasibility before action. Therefore option A is correct; ignoring customers or expenses defeats the purpose of planning.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
