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Identify the most common reasons why business plans fail.
A.Goals set by the entrepreneur are unreasonable.
B.Objectives are not measurable.
C.The entrepreneur has not made a total commitment to the business or to the family.
D.The entrepreneur has no experience in the planned business.
E.The entrepreneur has no sense of potential threats or weaknesses to the business.
Involving Others
The act of engaging additional individuals in activities or decision-making processes to leverage diverse perspectives and expertise.
Planning Process
A systematic series of steps taken to achieve a specific aim, including goal setting, strategy development, and resource allocation.
Benchmarking
The practice of comparing business processes and performance metrics to industry bests and best practices from other companies.
External Comparisons
The act of evaluating one's performance, practices, or characteristics by measuring them against those of other entities or benchmarks.
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