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What is the purpose of a business plan?

Practice Questions

Q1

What is the purpose of a business plan?

To outline the company's financial statements
To provide a roadmap for business growth and development
To analyze competitors
To manage employee performance

Questions & Step-by-Step Solutions

What is the purpose of a business plan?

Step 1: Understand that a business plan is like a map for a journey.
Step 2: Know that it outlines what the business wants to achieve (goals).
Step 3: Learn that it describes how the business will reach those goals (strategies).
Step 4: Realize that it includes details on the resources needed to succeed (means).
Step 5: Remember that having a business plan helps keep the business on track.

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