Although Building a Business Plan Does Not Guarantee an Entrepreneur's

question 78

True/False

Although building a business plan does not guarantee an entrepreneur's success, it does increase his or her chances of succeeding in business.

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Definitions:

Step-by-Step

Involves breaking down information, processes, or problems into smaller, manageable parts to facilitate understanding or completion.

Belief Perseverance

Clinging to one's initial conceptions after the basis on which they were formed has been discredited.

Availability Heuristic

Estimating the likelihood of events based on their availability in memory; if instances come readily to mind (perhaps because of their vividness), we presume such events are common.

Mental Set

A tendency to approach a problem in one particular way, often a way that has been successful in the past.