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? Facilitates acquisition of loans from financial institutions and other financiers
? Provides guidance for opening new or expanding existing business /
adaptability
? It acts as a management tool for the business / monitoring tool / identifies
strengths
? It’s a tool for evaluating business performance
? It lays the strategy to be used in marketing the products
? It enhances the credibility of the business
? It’s a motivational tool
? To avoid mistakes
? Proper allocation of resources
? To determine how much resources are required e.g. labour, capital etc /
source of capital
? Will help to identify the nature and scope of the market.
gregorymasila answered the question on January 26, 2018 at 06:24
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