Which of the following is NOT a part of Business Plan?
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → Recruitment and Selection Strategy
Option (1) Market analysis — A part of the business plan (Incorrect). It is item 4 in the usual list of parts of a business plan. It studies the demand for the product.
Option (2) Recruitment and Selection Strategy — Not a part of the business plan (Correct). A business plan is a written report on a new business idea, given to the funding body (such as the State Finance Corporation) to get a loan. Hiring of staff is part of staffing, a function of management, and is not listed among its parts.
Option (3) Executive Summary — A part of the business plan (Incorrect). It is the first item of a business plan. It gives the whole plan in short.
Option (4) Sales and Marketing Strategy — A part of the business plan (Incorrect). It is item 5 in the list. It shows how the product will be sold.
Note: This question is from the chapter Entrepreneurship Development, which is not in the current NCERT book (2026-27). The chapter is in the pre-rationalised NCERT, from which the extract below is taken. NCERT (Pre-rationalised Edition): “Feasibility Analysis: … Clearly the chosen product offering must be feasible from the diverse perspectives. You must compile these findings in the form of a business plan that would have to be submitted to the funding authorities, in the Indian context, the State Finance Corporation of your area. …” “Business Plan 1. Executive Summary 2. Business/industry background 3. Product/service to be offered 4. Market analysis 5. Sales and marketing strategy 6. Production/operations strategy 7. Management 8. Risk factors 9. Funds required” |