Question

Before opening his own business, Tanay was writing a report that details the specifics of his ideas and future business operations. This document is known as

Answer 1

Answer:

Before opening his own business , Tanay was writing a report that details the specifics of his ideas and future business operations. This document is known as business plan.

Answer 2

The document is known as Business Plan.

• The business plan is a summary of operations that need to be executed to attain organizational goals and also to achieve socio-economic goals.
• Tanya made the business plan to avoid trial and error, as it will have all the details of the business, what to do, how to do and when to do it.
• It is future-oriented but is constituted by present factors.
• The business plan needs huge research and time consuming, if any goes wrong then the plan will not execute properly.