Business plan includes:
A. Risk factors
B. Market analysis
C. Market survey
D. Market strategy
E. Market penetration
Choose the correct answer from the options given below :
Answer & explanation
Correct answer: option 2
The correct answer is option (2)- A, B, C and D only.
A. Risk factors- A business plan often includes a section on risk factors to assess and mitigate potential challenges and uncertainties in the business environment.
B. Market analysis - Market analysis is a crucial component of a business plan, as it involves researching and analyzing the target market, industry trends, and competition.
C. Market survey - Market surveys or research findings are often incorporated into the market analysis section to support the business plan's conclusions.
D. Market strategy - A business plan should outline the strategies for entering and competing in the chosen market.
The business plan includes various components that are important for planning and executing a business venture.
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
10. Return on and off investment and exit routes
11. Use of the sales proceeds
12. Financial summaries
13. Appendices, e.g., Reports on Market Survey etc