Title: Explain the purpose of a business plan.
Course: Make It Your Business (12151-6) > Section: Understanding a Business Plan

Explanation should address

- the purpose, vision, and means of operation
- that the business plan serves as the company's résumé, explaining the objectives, personal backgrounds, and experience of the owners to investors, partners, employees, and vendors.

Process/Skill Questions:

- For whom is a business plan written?
- Why is it necessary to develop a business plan?
- How is a business plan a working document?
- How does a business plan help the business owner communicate their vision and goals?
- What are possible consequences of not having a business plan?
- How can the probability of business success be projected?
- How often should a business plan be edited or changed?