A _________ is a formal document that describes a business concept and outlines the core business objectives while detailing the strategies and timelines for achieving those objectives.

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A business plan is a formal document that outlines the core objectives and strategies for achieving them. It is an essential tool for any entrepreneur or business owner seeking to start, grow or expand a business. The plan typically includes an executive summary, market analysis, company description, organization and management structure, product or service offerings, marketing and sales strategies, financial projections, and timelines for achieving goals.

A _________ Is a Formal Document That Describes a Business