Question

A business plan is a detailed written statement that describes the nature of the business, the target market, the advantages the business will have over competition, and the resources and qualifications of the owner(s).
a. True
b. False

Answer 1

Answer:

a. True

Explanation:

This statement is true, as the business plan is a document that contains all the detailed details of the business objectives, the actions necessary to achieve these objectives and goals.

An effective business plan will be one that will help to reduce the risks and uncertainties added to a business, helping to better position a new organization in the market. Included in the business plan are financial planning, marketing planning, operational planning and all the necessary steps for the company's activities to take place in an anticipated manner, increasing the potential of the organization.