Why is a business plan prepared?
Answer and explanation
Correct answer: To guide the work in the right direction
A business plan states the venture's objectives, proposed activities, resources, market approach, and expected financial needs. It gives direction and helps the entrepreneur coordinate time, money, and people while anticipating challenges. It is not prepared to confuse customers, increase risk deliberately, or hide resources.
Frequently asked questions
What is the correct answer to this question?
To guide the work in the right direction
Why is this the correct answer?
A business plan states the venture's objectives, proposed activities, resources, market approach, and expected financial needs. It gives direction and helps the entrepreneur coordinate time, money, and people while anticipating challenges. It is not prepared to confuse customers, increase risk deliberately, or hide resources.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
