Which of the following is not one of the three essential reasons to prepare a business plan?
A) Entrepreneurs reap benefits from the planning activity itself.
B) The plan provides a basis for measuring actual performance against expected performance.
C) The plan acts as a vehicle for communicating to others what it is that the business is trying to accomplish.
D) The plan is to attract competitors' action.

Question

Quizplus · Accepted Answer

The primary purposes of a business plan are to guide the entrepreneur in planning the business, to measure actual performance against expected performance, and to communicate the business's goals to others. Attracting competitors' action is not a purpose of a business plan; in fact, businesses often aim to keep certain aspects of their plans confidential to maintain a competitive edge.

Which of the Following Is Not One of the Three