Trevor Combs is thinking about launching a small business consulting company. To get advice on how to proceed, he stopped by his local Small Business Administration (SBA) office. The SBA advisor told Trevor that one of the first things he needs to do is to sit down and write a 25 to 35 page narrative that describes what his new business plans to accomplish and how it plans to accomplish it. The SBA advisor is telling Trevor to write a:
A) tactical plan
B) marketing plan
C) operations plan
D) business plan
E) competitive plan

Question

Quizplus · Accepted Answer

The SBA advisor is specifically telling Trevor to write a detailed narrative describing his business goals and strategies, which is the definition of a business plan. A tactical plan would be more focused on specific actions and tasks to achieve objectives, a marketing plan would focus on promoting and selling the business's products or services, an operations plan would focus on managing the day-to-day activities of the business, and a competitive plan would focus on analyzing and staying ahead of competitors.

Trevor Combs Is Thinking About Launching a Small Business Consulting