Ranjiv Opened a Chain of Four Restaurants, Which Are Run

question 53

Multiple Choice

Ranjiv opened a chain of four restaurants, which are run by different members of his family. Ranjiv outlines the vision, rules, and regulations for the restaurants. He is considering expanding into online ordering for takeout as well as other opportunities. For the restaurants to continue to operate successfully into the future, Ranjiv and his family need to develop a(n)

• A) business plan.
• B) marketing plan.
• C) expansion plan.
• D) succession plan.
• E) milestone plan.

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Definitions:

Taxable Item

A taxable item is any product or service subject to tax by governing authorities when sold or purchased.

Founders' Agreement

A legal document outlining the roles, responsibilities, and equity ownership of the founding members of a company.

Less Technical

Pertaining to or characterized by a simpler understanding or approach that doesn't heavily rely on specialized knowledge or complexities.

Key Issues

Central or most important problems, questions, or concerns that require attention or resolution.