In order to meet the financial needs for future business growth as well as current demands, TruWood Cabinet Makers must secure a business loan of $125,000 from a local bank. The loan committee has asked owner and general manager Jarret Jones to write a comprehensive business plan that meets all of First Security Bank’s requirements for such a large loan. After a lot of research and careful writing, the plan is constructed and ready for presentation to the loan committee.
-Jones knows that busy loan officers don't have the time to read his entire plan and prefer instead a synopsis or a condensed version that summarizes it.To address this fact,Jones:
A)limited his plan to 8-10 pages.
B)included a well-written executive summary.
C)turned the project over to a professional writer.
D)thoroughly documented all research findings and projections.

Question

Quizplus · Accepted Answer

An executive summary is a concise version of a business plan that highlights the main points, making it easier for busy loan officers to understand the essence of the plan without reading it in its entirety.

In Order to Meet the Financial Needs for Future Business