Why is it so important to spend so much time planning and writing a business plan? Why can’t entrepr

Jun 24th, 2016
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Why is it so important to spend so much time planning and writing a business plan? Why can’t entrepreneurs just “fill it in” as they go along? What are the benefits of writing a business plan? Make sure that you use proper APA citations. 1 or 2 paragraphs will do for this question with references

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June 24, 2016[PLANNING & BUSINESS PLAN]WHY IS IT SO IMPORTANT TO SPEND SO MUCH TIME PLANNING AND WRITING A BUSINESSPLAN? WHY CANT ENTREPRENEURS JUST FILL IT IN AS THEY GO ALONG ? WHAT ARE THEBENEFITS OF WRITING A BUSINESS PLAN ?Planning:The act or process for making the goals to achieve something is called planning. In anotherwords planning is the process toIndentifies thegoalsIdentifies the goalsFormulates the strategiesArrangement of resourcesImplementation & MonitoringFormualates thestrategiesPlanningArrangement ofresourcesImplementation&MonitoringPlanning is the first & important function of the management. Its required at every level ofmanagement like in the top management, middle management as well as in the lowermanagement. Why we should spend so much time on planning because planning providesdirection & reduce the overlapping & extravagant activities. Planning helps theEntrepreneur/manager for the achievement of its goals. The planning process provides theinformation to Entrepreneur/manager to make effective decisions about how to allocate the1June 24, 2016[PLANNING & BUSINESS PLAN]resources in pe

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