Question

What is one purpose of writing a business plan before entering the market? A) to prove that the new company will be successful b) to show that the enterprise system is realistically based c) to have a useful tool when applying for funding d) to differentiate the new company from the competition

Answer 1

D) to differentiate the new company from the competition

Answer 2

The correct answer is D) to differentiate the new company from the competition.

One purpose of writing a business plan before entering the market is to differentiate the new company from the competition.

A business plan is a corporate document where it is stated the purpose and characteristics of the company to be opened. In order to differentiate the new company from the competition, the owners or directors need to have a plan that includes an executive summary, company’s Mission, Vision, and Values. The organization chart, the general objective of the Company, the goals, the forecast, the implementation, the supervision of the new business and the Key Performance Indicators in order to have an evaluation process.