A business plan:
A)is developed through an intuitive process by which the entrepreneur records his/her plans for the business in the future.
B)focuses on the internal elements of the business.
C)forces an entrepreneur to think a business idea through,considering both its positive and its negative aspects.
D)is a strategic plan for a business that must be supplemented by operational plans once financing is secured.

Question

Quizplus · Accepted Answer

A business plan is a document that outlines the entrepreneur's idea for a business and how they plan to make it successful. It forces the entrepreneur to fully think through their idea, anticipating potential challenges and risks. While it does include internal details of the business, it also considers external factors such as market competition and target demographics. Once financing is secured, the business plan is used as a guide to develop more specific operational plans.

A Business Plan