Study Guide Answers
Chapter 6: Business Plan Introduction

1. good decisions, goal, or destination

2. plan

3. Answers may include:

• The business owner evaluates the entire business.
• The plan contains written information useful to employees, investors, creditors, and other interested parties.
• Planning forces the business owner to address competition issues.
• Planning is a systematic way to identify and capitalize on new opportunities.
• The plan should be updated regularly and used to evaluate the business's actual versus planned performance.

4. the same