Why is business plan important when planning a business?

Principles of Management
OER 2019th Edition
ISBN:9780998625768
Author:OpenStax
Publisher:OpenStax
Chapter7: Entrepreneurship
Section: Chapter Questions
Problem 5CRQ: Why is it important to develop a business plan? What should such a plan include?
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1. Why is business plan important when planning a business? 2. Why is knowledge about the structures of markets in which the firms operate important? How could this be of help to you in order to understand the differences in prices and services? 3. What is the importance of a business plan?
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