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- The role of a business plan includes the following key aspects12:
- Critical decision-making: A business plan helps in making important decisions.
- Smoothing things out: It identifies challenges and questions that need to be addressed.
- Preparing for major events: A business plan helps in planning for significant milestones.
- Recognizing viability: It assesses the feasibility and viability of the business.
- Setting objectives: A business plan outlines short- and long-term goals for the company.
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.Key Takeaways
- A business plan is a document describing a company's business activities and how it plans to achieve its goals.
- Startup companies use business plans to get off the ground and attract outside investors.
www.investopedia.com/terms/b/business-plan.aspFive Key Roles Of A Business Plan
- 1. Critical decision-making A business plan is especially important in making critical decisions. ...
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