Asked by Katie Carlile on Jun 16, 2024
Verified
A(n) ___ plan describes the direction for a new business and the financing needed to operate it.
A) succession
B) business
C) structural
D) operational
E) feasibility
Business Plan
A detailed document that outlines the objectives, strategies, marketing, and financial forecasts of a business.
Financing
involves providing funds for business activities, making purchases, or investing.
- Understand the concept and importance of business planning in starting and operating a business.
Verified Answer
KD
Katherine DoughtyJun 19, 2024
Final Answer :
B
Explanation :
A business plan outlines the goals and strategies for a new business, as well as the funding required to support it. Succession plans are typically used for existing businesses, while structural plans deal with the organization's internal structure. Operational plans cover the day-to-day tasks of a business, and feasibility plans evaluate the likelihood of success for new ventures. Therefore, option B is the correct choice.
Learning Objectives
- Understand the concept and importance of business planning in starting and operating a business.