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Multiple Select QuestionSelect all that applyWhat are the two components of a business plan?Multiple select question.A step-by-step explanation of how the business will achieve its goalsA precise statement of the rationale for the businessA step-by-step description of how the business' product will be producedA detailed description of how the business will be dissolved, should it fail

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Multiple Select QuestionSelect all that applyWhat are the two components of a business plan?Multiple select question.A step-by-step explanation of how the business will achieve its goalsA precise statement of the rationale for the businessA step-by-step description of how the business' product will be producedA detailed description of how the business will be dissolved, should it fail

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Solution

The two components of a business plan from the options provided are:

  1. A step-by-step explanation of how the business will achieve its goals
  2. A precise statement of the rationale for the business

These two components are essential in a business plan as they outline the business's objectives and the strategy to achieve them, as well as the reason for the business's existence. The other two options, while potentially part of a larger business strategy or plan, are not typically considered core components of a business plan.

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