FREE Basic Business Plan Question and Answers

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An outline of a business plan

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Wrong!

Examines the potential for future growth of the company

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Wrong!

A step in the business operations that leads to the creation and provision of the good or service

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Wrong!

Explanation:
The company’s strategy for carrying out its vision is laid out in the business plan operations plan. The procedures that must be followed in order to serve consumers on a daily basis are specified in the operating plan. Or, to put it another way, the momentary processes. Additionally, it describes the general business milestones that the business must hit in order to succeed. The long-term processes are another name for this.

Why is a business plan required?

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Wrong!

Explanation:
An essential and strategic tool for entrepreneurs is a business plan. In addition to helping entrepreneurs concentrate on the specific steps required for their business ideas to succeed, a strong business plan also enables them to meet both short- and long-term goals. (Ambien)

How a business will inform clients about its goods or services

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Wrong!

Explanation:
A marketing plan is a document that describes your company’s overall marketing strategy, which may be used for the upcoming year, quarter, or month.

Qualifications of a possible business owner and any partners

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Wrong!

An examination of the advantage the company has over its rivals

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Wrong!

Explanation:
Your business plan’s Competitive Analysis section is devoted to examining your competitors, both present and potential ones who might enter your market. Every industry is competitive.

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