Question

The conclusion part of the business plan will identify the

• A. Feasibility of the business.
• B. Market description
• C. Administrative aspects of the business
• D. Business suppliers

Answer 1

The Correct Option is A

The conclusion part of a business plan is critical as it encapsulates the core findings and final thoughts, leaving the reader with a clear understanding of the business’s potential and the practicality of pursuing it. Here, we identify why "Feasibility of the business" is the correct aspect addressed in the conclusion section of a business plan.

1. Understanding the Conclusion of a Business Plan: The conclusion is the segment where the business's viability is thoroughly evaluated. This involves assessing whether the business idea will be profitable and sustainable in the long term. It is crucial to restate the potential success factors and address any risks, leaving the reader with a final impression that solidifies the feasibility of moving forward with the business.
2. Evaluating the Options:
   • Feasibility of the business: The conclusion reviews all the gathered data to determine whether the business idea is feasible. It consolidates insights on the market, financial forecasts, competitive advantages, and potential challenges to affirm the business's potential success. Thus, this is the correct aspect addressed in the conclusion.
   • Market description: This relates to defining the target market, potential customer base, demand for the products/services, etc., and is typically covered in the market analysis section of the business plan.
   • Administrative aspects of the business: These cover organizational and operational details such as management structure, staff, and logistics, commonly detailed in the organizational plan.
   • Business suppliers: Information about suppliers and the supply chain would typically be included in the operational plan, not the conclusion.
3. Conclusion: Summing up a business plan with the feasibility assessment allows stakeholders and decision-makers to grasp the business's potential clearly and make informed decisions on its viability. Therefore, "Feasibility of the business" is correctly identified as part of the conclusion.