Directions: Answer the following:1. Explain the meaning of a business plan.2. Discuss the goals of a business plan.3. Describe the reasons for developing a business plan.4. Explain the essential elements of a business plan.

Answered: 1. Explain the meaning of a business…

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Marketing

1. Explain the meaning of a business plan.

Foundations of Business (MindTap Course List)

6th Edition

ISBN:9781337386920

Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Publisher:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Chapter4: Choosing A Form Of Business Ownership

Section: Chapter Questions

Problem 6DQ

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Concept explainers

Organizational Strategy

Organizational strategy is an activity to achieve a long-term goal with effective planning and practice. In an organizational strategy, the company takes the initiative to prepare a strategic plan with the involvement of all levels of employees to ensure the proper functioning of a business. The organizational strategy depends on culture, staff involvement, values, and an organized system of an organization. In a marketing and sales company, there must be an organizational strategy to promote a brand effectively.

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Directions: Answer the following:
1. Explain the meaning of a business plan.
2. Discuss the goals of a business plan.
3. Describe the reasons for developing a business plan.
4. Explain the essential elements of a business plan.

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