Khalil quit his job as aninvestment banker to startAssi Rafts, a canoe and kayakrental business in Bekaa. Khalilwas tired of the corporate lifeand was ready for a change.He bought a land, built hisfacility, and bought canoes,kayaks, trailers, and vans. Hedid no market research suchas talking to potentialcustomers before investing inthe business. In the sevenyears the business operated, itnever reached even half therevenues it needed to besuccessful. In the end, heclosed the business afterspending all his and hisparents' savings. Whatfunction would a business planplay in Khalil's case? *Enhance his creativityStrengthen his research skillsAttract lenders and investors he wasin desperate need for to launch hisbusinessServe as his road map on theO journey toward building a successfulbusiness

Creativity in business is a method of rationale that stimulates, challenges, and supports…

parents' savings. What function would a business plan play in Khalil's case? * O Enhance his creativity O strengthen his research skills Attract lenders and investors he was O in desperate need for to launch his business Serve as his road map on the journey toward building a successful

parents' savings. What function would a business plan play in Khalil's case? * O Enhance his creativity O strengthen his research skills Attract lenders and investors he was O in desperate need for to launch his business Serve as his road map on the journey toward building a successful

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Question

Khalil quit his job as an
investment banker to start
Assi Rafts, a canoe and kayak
rental business in Bekaa. Khalil
was tired of the corporate life
and was ready for a change.
He bought a land, built his
facility, and bought canoes,
kayaks, trailers, and vans. He
did no market research such
as talking to potential
customers before investing in
the business. In the seven
years the business operated, it
never reached even half the
revenues it needed to be
successful. In the end, he
closed the business after
spending all his and his
parents' savings. What
function would a business plan
play in Khalil's case? *
Enhance his creativity
Strengthen his research skills
Attract lenders and investors he was
in desperate need for to launch his
business
Serve as his road map on the
O journey toward building a successful
business

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