Why is it necessary to have clear goals in a business plan?
Answer and explanation
Correct answer: Because goals guide resources, time, and effort in the right direction
A clear goal states what the business intends to achieve and provides direction for decisions. It helps the entrepreneur allocate money, people, and time, set priorities, and later compare actual results with planned results. Goals do not remove market needs or make expenses disappear. Their role is to guide and coordinate effort, which makes option A correct.
Frequently asked questions
What is the correct answer to this question?
Because goals guide resources, time, and effort in the right direction
Why is this the correct answer?
A clear goal states what the business intends to achieve and provides direction for decisions. It helps the entrepreneur allocate money, people, and time, set priorities, and later compare actual results with planned results. Goals do not remove market needs or make expenses disappear. Their role is to guide and coordinate effort, which makes option A correct.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
