Discussion Question - Chapter 1

After reading the business plan located at the end of chapter 1 - think about  a small business you are familiar with or one that you might want to own one day. What type of business is it? If this is something you want to own - why did you choose this type of business? 

Now thinking about the business plan specifically - what role does the business plan - play? Is a business plan always necessary when starting a new business? If a business already exists - does the owner need to update or review the business plan? Why or why not?

 type your answer in no less than 200 words. Please be careful of grammar, spelling and cite the textbook (or any other source) at the end of your answer. For the textbook you can simply say something like – according to the text – chapter one …….

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