Asked by Trevor Chandler on Feb 18, 2024



Describe why you do or do not believe that writing a business plan would be important to your business success.

Business Model

Describes the rationale of how a new venture creates, delivers, and captures value.

  • Identifying key components and sections of a business plan
  • Analyzing the potential impact of a well-written business plan on business success
  • Understanding the purpose and benefits of a business plan

Verified Answer

Sarah Marshburn

Feb 18, 2024

Final Answer :
It will help clarify the elements of the business.Important research is conducted in the process of preparing your business case and can save the entrepreneur time and money if he or she discovers that the plan is not solid.It may be needed for any pitch to investors.Businesses with plans are more likely to be implemented.However,they may not be needed and the entrepreneur can use the time to gather information and start the business.Research shows that business plans are not correlated with success.