The Difference Between a Business Plan and a Business Case

question 14

Multiple Choice

The difference between a business plan and a business case is that:

• A)business cases are brief and general,while business plans are long and detailed.
• B)a business case is a part of every business plan.
• C)all businesses need a business case,but not a business plan.
• D)all businesses should have a business plan,but only businesses planning a new major EC or IT initiative should develop a business case.

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Definitions:

Selling Price

The amount a customer pays to purchase a product or service.

Value-based Pricing

Pricing strategy where the price is based on the perceived value of a product or service to the customer rather than the cost of production.

Industrial Grinder

A machine tool used in manufacturing for grinding, which is a process of removing material using abrasion.

Preventive Maintenance

Routine maintenance and servicing of equipment to prevent unexpected breakdowns and failures.