There is an emerging school of thought that opposes the idea of writing a business plan and advocates experimentation and trial-and-error learning gleaned through customer feedback and formal planning
How does the approach to writing a business plan described in this book differ from this philosophy? How does trial-and-error learning figure into the approach to writing a business plan advocated in this book?
What will be an ideal response?
This book takes the opposite approach, arguing that a business plan, proceeded by a feasibility analysis, represents an important starting point for a new venture and serves many useful purposes. In this sense, those developing a business plan should understand that it is not intended to be a static document written in isolation at a desk. Instead, it is anticipated that the research conducted to complete the plan, and the preceding feasibility analysis, will place the founders in touch with potential customers, suppliers, business partners, and others, and that the feedback obtained from these key players will cause the plan to change as it's being written.
You might also like to view...
The most important challenge of customizing a purchased data model is:
A) getting user buy-in. B) determining the business rules that will be established through the data model. C) implementation. D) user training.
The Environmental Protection Agency defines ________ as that which creates and maintains the conditions under which humans and nature can exist in productive harmony, that permit fulfilling the social, economic and other requirements of present and
future generations. a) stability b) sustainability c) an ecosystem d) the Superfund