A new venture's business plan is important because ______.*1 pointt helps to persuade others to commit funding to the venture.Can help demonstrate the viability of the venture.Provides a guide for business activities by defining objectivesAll the above.

A new venture's business plan is important because?Question 14Answera.Provides a guide for business activities by defining objectives.b.Can help demonstrate the viability of the venture.c.It helps to persuade others to commit funding to the venture.d.All the three.

Describe why a simple business plan is important and identify its two main features.

write in your words the importance of the business plan:

hich one of the five statements below about Business Plans is wrong/incorrect:Question 4AnswerA.Informs the market plan and marketing strategyB.After development, a business plan should not altered to meet any changes in the context or situation of each opportunity/venture.C.Forces the entrepreneur to think clearly about all aspects of the proposed business.D.Business planning facilitates the analysis of the venture's potential and selection of an appropriate competitive strategy.E.Helps entrepreneurs to communicate their creative idea(s) to others.

The need for a business plan includes all except:  *1 pointPlanning to launch a new businessExpanding your existing businessAdding a new product or product lineIncreasing your labour force