What is the main purpose of a business plan?
Answer and explanation
Correct answer: To decide the direction and method of work
A business plan describes the proposed business, its objectives, customers, operations, resources, costs, and expected methods of earning revenue. It acts as a guide for decisions and helps identify feasibility and risks before action begins. Confusing employees, ignoring costs, or hiding information contradicts the purpose of planning.
Frequently asked questions
What is the correct answer to this question?
To decide the direction and method of work
Why is this the correct answer?
A business plan describes the proposed business, its objectives, customers, operations, resources, costs, and expected methods of earning revenue. It acts as a guide for decisions and helps identify feasibility and risks before action begins. Confusing employees, ignoring costs, or hiding information contradicts 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.
