One Advantage of Preparing a Formal Written Plan for a Business

question 45

True/False

One advantage of preparing a formal written plan for a business is the discipline provided for the prospective entrepreneur.

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Definitions:

Theory of Planned Behavior

A psychological theory which states that an individual's behavior is determined by their intention to perform the behavior, which in turn is influenced by their attitudes, subjective norms, and perceived behavioral control.

Subjective Norm

An individual's perception of social pressure to perform or not perform a particular behavior, influenced by the beliefs about what important others think they should do.

Volitional Control

Refers to the ability to make wilful, conscious decisions or exert self-control over one's actions and reactions.

Attitude-Behavior Consistency

The extent to which individuals’ attitudes (beliefs and feelings) about an object predict their behavior towards that object.