Which of the following is the main purpose of business plan quizlet?

Which of the following is the main purpose for writing a business plan? … The plan introduces potential investors and other stakeholders to the business opportunity.

Which of the following is the main purpose of business plan?

✓ The purpose of a Business Plan is to identify, describe and analyze a business opportunity and/or a business already under way, examining its technical, economic and financial feasibility.

What is the main purpose of a business plan quizlet?

A business plan is a written document that describes all the steps necessary for opening and operating a successful business. – Describes what your business will produce, how you will produce it, and who will buy your product or service.

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What are the two main reasons for writing a business plan quizlet?

There are two primary reasons to write a business plan: Internal Reason: Forces the funding team to systematically think through every aspect of its new venture. And develop a concrete blueprint to follow. External Reason: Communicates the merits of a new venture to outsiders, such as investors and bankers.

Which section of the business plan describes how much money is required to finance the business where these funds will be spent and when they will be needed?

The financial management section of your business plan should state how much money you need to borrow and how you plan to use the money. A brief explanation of why you are asking for a loan and what you plan to do with the money is called an executive summary.

What includes the purpose of plan?

Planning is concerned with defining goals for a company’s future direction and determining the resources required to achieve those goals. To meet the goals, managers will develop marketing and operational plans inclusive of key organizational values (vision, mission, culture, etc.).

What are the main purposes for a business plan What do you believe to be the two most important aspects of a business plan Why?

The 3 most important purposes of a business plan are 1) to create an effective strategy for growth, 2) to determine your future financial needs, and 3) to attract investors (including angel investors and VC funding) and lenders.

Which of the following is the main purpose for writing a business plan Group of answer choices?

Which of the following is the main purpose for writing a business plan? … The plan introduces potential investors and other stakeholders to the business opportunity.

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What is a business idea quizlet?

an idea for a company, product, or service. Not all business ideas have a good chance of succeeding. … a consumer problem, need, or desire that a business could provide a solution for. This could be a problem, need, or desire of individual consumers or companies. You just studied 9 terms!

What section of the business plan describes the business?

What goes into your business plan’s executive summary section? In the first paragraph, the executive summary should include a description of your business and the customer problem being uniquely solved so the reader understands what you are trying to achieve.

What are the two most common reasons that entrepreneurs write business plans?

But there are many reasons to write a business plan, including the following five:

  • You want to start a business. …
  • You own an established firm and are seeking help. …
  • You need to determine your objectives. …
  • You’re trying to predict the future. …
  • You want to use it to raise all the money you’ll need.

What is the most important part of business plan quizlet?

The executive summary is often called the most important part of the business plan because an investor will first ask for a copy of a firm’s PowerPoint deck or executive summary and will request a copy of the full business plan only if the PowerPoint deck or executive summary is sufficiently convincing.

What are the three main factors addressed in a business plan?

In order to develop a successful business plan, one must focus on the three major factors which contribute towards the success of a business.

Developing a business plan should cover four essential areas including:

  • Business Ideas.
  • Market Analysis.
  • Market Strategy.
  • Financial Analysis.
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What is a major purpose for using the business plan externally?

A major external purpose for the business plan is as an investment tool that outlines financial projections, becoming a document designed to attract investors. In many instances, a business plan can complement a formal investor’s pitch.

Which of the following is the most important part of the business plan?

The executive summary the most important part of your business plan, and perhaps the only one that will get read so make it perfect! The executive summary has only one objective : get the investor to read the rest of your business plan.