The main importance of business planning is : (a) in attracting investors (b) in providing guidelines (c) in providing leverage (d) all the above
Answers
Explanation:
Business planning is an important precursor to action in new ventures. By helping firm founders to make decisions, to balance resource supply and demand, and to turn abstract goals into concrete operational steps, business planning reduces the likelihood of venture disbanding and accelerates product development and venture organizing activity. – Delmar and Shane (2003, p. 1165)
We always plan too much and always think too little. We resent a call to thinking and hate unfamiliar argument that does not tally with what we already believe or would like to believe. – Joseph Schumpeter
Trying to predict the future is like trying to drive down a country road at night with no lights while looking out the back window. – Peter Drucker
The executive summary the most important part of your business plan, and perhaps the only one that will get read so make it perfect! The executive summary has only one objective : get the investor to read the rest of your business plan.
Answer
The answer is (all the above)