As seen on the business plan flowchart figure in the chapter, which of the following is the correct order in which to write a business plan according to the text?

Question

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According to the text and the flowchart provided, the correct order to write a business plan is to first identify the product or service, then develop a marketing strategy, and finally prepare the executive summary. Option A is incorrect because determining market size should come after developing a marketing strategy. Option B is incorrect because developing a marketing strategy should come before preparing the executive summary. Option D is incorrect because estimating initial capital requirements should come after determining the market size.

As Seen on the Business Plan Flowchart Figure in the Chapter