A precise statement of the rationale for a business and a step-by-step explanation of how it will achieve its goals is known as a(n)_____.

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A business plan is a detailed document that outlines a business's objectives and the strategy to achieve those goals, including market research, financial planning, and operational details. It serves as a roadmap for the business's operations and a tool to attract investors.

A Precise Statement of the Rationale for a Business and a Step-By-Step