All of the following would be considered benefits of implementing an effective business plan except:

A) ensuring that the management team has a clear understanding of the goals of the organization.
B) providing details as to how the goals of the organization are going to be achieved.
C) forecasting external financing requirements.
D) providing a vehicle to share information with investors.
E) all of the above are benefits of business planning.

Forecasting External Financing

It involves predicting the amount of external funding a company will need to support its anticipated growth and operational needs.

Management Team

The group of individuals responsible for the strategic planning and day-to-day operations of a company.

Business Plan

A document projecting a firm’s physical and financial performance into the future. Business plans can be short or long range. Long-range plans are “strategic” and tend to be more verbal than financial. Shorter-term plans are described as “operational,” and detail the more routine running of the business.