Before opening his own business, Kareem was writing a report that details the specifics of his ideas and future business operations. This document is known as a:
A) SWOT analysis.
B) business portfolio.
C) business plan.
D) competitive analysis.
E) mission statement.

Question

Quizplus · Accepted Answer

A business plan is a document that outlines the proposed business, including the details of its goals, operations, financial projections, and marketing strategies. It helps entrepreneurs to evaluate the feasibility of their business, plan for the future, and secure funding from investors or lenders. A SWOT analysis, business portfolio, competitive analysis, and mission statement are all components of a business plan but do not encompass the entirety of the document.

Before Opening His Own Business, Kareem Was Writing a Report