For the entrepreneur starting a new venture, a business plan has three basic objectives. Which of the following is not one of them?
A) identify the nature and context of the business opportunity.
B) outline the approach the entrepreneur intends to use to exploit the opportunity.
C) recognize factors that will determine whether or not the venture will be successful.
D) present to local entities to get the required permits for startups.

Question

Quizplus · Accepted Answer

While presenting the business plan to local entities or obtaining permits may be a necessary step in starting the venture, it is not one of the basic objectives of a business plan. The three basic objectives are to identify the nature and context of the business opportunity, outline the approach to exploit the opportunity, and recognize factors that will determine success.

For the Entrepreneur Starting a New Venture, a Business Plan