What is the main purpose of a business plan?
Answer and explanation
Correct answer: Giving direction to the business
A business plan sets out the venture’s objectives, target market, product or service, operations, required resources, marketing approach, expected costs, and possible revenue. It guides action and helps assess feasibility and funding needs. It is not a tool for hiding records, confusing customers, or spending without purpose.
Frequently asked questions
What is the correct answer to this question?
Giving direction to the business
Why is this the correct answer?
A business plan sets out the venture’s objectives, target market, product or service, operations, required resources, marketing approach, expected costs, and possible revenue. It guides action and helps assess feasibility and funding needs. It is not a tool for hiding records, confusing customers, or spending without purpose.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
