What is the relationship between the business plan and the business model?
A)The business model will not be possible without a business plan.
B)The business model will support the business plan, explaining how to attain the plan's goals.
C)They are the same thing.
D)A business plan supports the business model, explaining how to attain the model's goals.

Question

Quizplus · Accepted Answer

The business model and business plan are related but different concepts. The business model is the strategic framework for how a company will make money, while the business plan outlines the specific goals, objectives, and tactics for a particular venture. The business plan supports the business model by providing a detailed roadmap for how to attain the model's goals.

What Is the Relationship Between the Business Plan and the Business