Catherine Smith has just finished writing a business plan for a startup in the medical products industry. She has now reached the point where she needs to develop a plan for how her firm will compete, use its resources, structure its relationships, interface with customers, and create value to sustain itself on the basis of the profits it earns. Jennifer needs to establish her firm's:

Question

Quizplus · Accepted Answer

The plan that Catherine needs to develop is her firm's business model, which outlines the overall strategy for how the business will create, deliver, and capture value. This includes decisions on competition, resources, relationships, customer interactions, and revenue generation. The other options listed are not as comprehensive or relevant to the task at hand.

Catherine Smith Has Just Finished Writing a Business Plan for a Startup