Which of these statements about a business plan is true?

A. Businesses do not need to document a business plan.

B. Established businesses do not create a business plan.

C. A business plan is a business's roadmap for the future.

D. A business plan guarantees a business's success.

C. A business plan is a business's roadmap for the future.

Explanation:

We are given 4 statements and we have to chose the correct statement. Let's analyze these statement one by one.

A. Businesses do not need to document a business plan.

Every business whether small or large must create a business plan. In fact, one of the most important thing for a business to be successful is its detailed business plan which must cover all the important aspects of the business e. g. pricing, revenue model, customer demographics etc. Therefore, option A is NOT a correct statement

B. Established businesses do not create a business plan.

It is equally important for an established business to have a business plan as it is for a startup. Business plan is a vision of the future. If a established business has a well defined business plan, chances of their success and chances of them achieving their goals will be significantly more. Therefore, option B is NOT a correct statement

C. A business plan is a business's roadmap for the future.

This a true statement. Business plan is termed as a blueprint of success for the business. This means, a business plan lists all the ways, methods by which a business will sale its services/products and achieve its goals set for the future. Therefore, option C is a correct statement.

D. A business plan guarantees a business's success.

It is true that a well formulated business plan increases chances of success, but it does not guarantee success. This is because there are many other factors for determining the success, one of which is execution of the business plan and ideas. If the business plan is not properly executed, it will be of no use. Therefore, option D is NOT a correct statement.