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Which document outlines the goals and strategies of a new business?a.Product catalogb.Resumec.Business pland.Job application

Question

Which document outlines the goals and strategies of a new business?

  • a. Product catalog
  • b. Resume
  • c. Business plan
  • d. Job application
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Solution

The document that outlines the goals and strategies of a new business is c. Business plan.

A business plan is a comprehensive document that serves as a roadmap for the business, detailing its objectives, strategies for achieving those objectives, market analysis, financial forecasts, and operational plans. It is crucial for both the internal management of the business and for securing funding from investors or lenders. While a product catalog focuses on the goods offered, a resume highlights an individual's qualifications, and a job application pertains to employment candidacy, a business plan captures the essence of a business’s vision and approach towards achieving its goals. This makes it an essential tool for both new and existing businesses as they prepare for growth and development.

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