Question

The ______ plan shows whether the business is economically feasible or not.

• A. Human Resource
• B. Business
• C. Economic
• D. Operational

Answer 1

The Correct Option is B

A business plan is a comprehensive document that outlines the future path of a business. Its primary purpose is to prepare for and prove that the business is economically feasible, providing detailed insight into the company’s strategy, financial projections, market research, and operational plans.

Let's analyze the options given:

• Human Resource Plan: This focuses on the staffing and personnel aspects of a business. It involves planning, recruiting, and managing employees but does not directly determine the economic feasibility of the business.
• Business Plan: This option is the correct answer. A business plan outlines the business's purpose, aims, strategies, market analysis, financial forecasts, and is essential for assessing economic feasibility. It helps in understanding whether the business will be sustainable financially.
• Economic Plan: While the name may suggest a link to economic feasibility, an economic plan typically refers to broader economic policy planning rather than business viability assessments.
• Operational Plan: This is concerned with the day-to-day operations of a business but does not provide a comprehensive overview of the business's economic viability.

In conclusion, the term "Business Plan" is the most appropriate choice as it directly addresses the evaluation of economic feasibility for a business.