Two key components of a plan are

A) an objective and an action statement.
B) a budget and an alternative plan.
C) a strategy and an estimated budget.
D) a sales forecast and an operations analysis.
E) a time line and an action statement.

An objective defines the goal or outcome desired, and an action statement outlines the steps to be taken to achieve the objective. Both these components are critical to a plan because they provide direction and ensure that efforts are directed towards achieving a specific goal. Budget, strategy, sales forecast, operations analysis, and time line are all important components of a plan, but they do not capture the essence of what a plan is – a roadmap to achieving a goal.