Question

Which one of the following is correct about business plan?

• A. Business plan is necessary only for big companies
• B. Business plan lays down the best growth path and strategy
• C. Business plan is substitute for strategic planning
• D. Business plan should emphasize on ideas and concept only

Answer 1

The correct option is B Business plan lays down the best growth path and strategy

Business plan lays out the best growth path and strategy. Developing a business plan is an intense and time-consuming process and yet can have many significant benefits for all enterprises.