Question

The part of the formal business plan in which you discuss the industry, business structure, products and services, and how you plan to make your business a success is called the ______.

Answer 1

The executive summary is the part of formal business plan which discusses the industry, business structure, products and services and other plan to make the business successful.

The business plan is a formal and written document which outlines the goals of the company, shows tasks to be performed and shows the financial plans to be use to accomplish the outlined goals.

The part of the business plan includes:

• Executive summary shows the summary of key points in the business plan.
• Marketing plan shows the promotion and marketing plans of the business.
• Key management bios shows the planned management structure of the business
• Financial plan shows the finance plans of the business

Therefore, the executive summary is the part of formal business plan which discusses the industry, business structure, products and services and other plan to make the business successful.

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