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What is the purpose of a business plan?
What is the purpose of a business plan?
- To analyze the stock market trends
- To detail a company's goals and how it intends to achieve them (correct)
- To outline the company's competitors
- To provide a detailed history of the company
When is a business plan considered a necessity?
When is a business plan considered a necessity?
- When considering starting up a business (correct)
- After a business has been established for 5 years
- When the company is planning to downsize
- When the company is not generating profits
What does a feasibility plan evaluate?
What does a feasibility plan evaluate?
- Competitor's marketing strategies
- Company's annual revenue
- Prospective customers of the products or services (correct)
- Employee satisfaction levels
When is an expansion plan primarily framed?
When is an expansion plan primarily framed?
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What does an operational plan detail?
What does an operational plan detail?
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Business plans are only beneficial for startups, not for well-established companies.
Business plans are only beneficial for startups, not for well-established companies.
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A feasibility plan evaluates the prospective customers of the products or services a company plans to produce.
A feasibility plan evaluates the prospective customers of the products or services a company plans to produce.
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An expansion plan is primarily framed when a company decides to downsize in terms of production or structure.
An expansion plan is primarily framed when a company decides to downsize in terms of production or structure.
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An operational plan is also called a quarterly plan.
An operational plan is also called a quarterly plan.
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A business plan precisely defines the proposed business, its goals, and promotes the talents and experience of those involved in the business start-up.
A business plan precisely defines the proposed business, its goals, and promotes the talents and experience of those involved in the business start-up.
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