The primary purpose of a business plan is to:
A) attract lenders and investors.
B) enable an entrepreneur to take her company public.
C) guide a company by charting its future course and devising a strategy for success.
D) meet SEC and other legal requirements designed to protect lenders and investors.

Question

Quizplus · Accepted Answer

A business plan serves as a roadmap for a company, outlining its goals, strategies, and tactics for achieving success. While attracting lenders and investors may be one purpose of a business plan, it is ultimately a tool for guiding the company's operations and decision-making. Taking a company public and meeting legal requirements are also potential outcomes of a business plan, but they are not the primary purpose.

The Primary Purpose of a Business Plan Is To