What is the main purpose of a business plan?
Answer and explanation
Correct answer: To make goals and work direction clear
A business plan sets out the venture’s objectives, proposed activities, resource needs, and intended direction. It helps the entrepreneur think systematically, coordinate work, estimate requirements, and monitor progress. A plan cannot guarantee success, but its purpose is certainly not to confuse customers, increase losses, or waste time. Therefore, clarifying goals and direction is the best answer.
Frequently asked questions
What is the correct answer to this question?
To make goals and work direction clear
Why is this the correct answer?
A business plan sets out the venture’s objectives, proposed activities, resource needs, and intended direction. It helps the entrepreneur think systematically, coordinate work, estimate requirements, and monitor progress. A plan cannot guarantee success, but its purpose is certainly not to confuse customers, increase losses, or waste time. Therefore, clarifying goals and direction is the best answer.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
