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Yokav Yokav
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7 years ago
The Miller brothers (Jack, Bill, and Evan) are about to fulfill a lifelong dream. They are buying a thousand-acre farm and plan to grow corn. They are not interested in bringing in any outside owners. The brothers are realistic and expect to work very long hours. However, they have a few critical decisions left to make. Should the Miller brothers develop a business plan? Why or why not?
Textbook 
Business Essentials, Canadian Edition

Business Essentials, Canadian Edition


Edition: 8th
Authors:
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7 years ago
A business plan would help the brothers develop and describe their business strategy and demonstrate how it will be implemented. It would also describe the abilities and experiences each of the brothers can contribute to running the farm. Three different people probably have three different areas of expertise. The business plan would also define legal elements, describe how the business will be organized, and address accounting and finance issues. It would specifically address what the three men's goals and objectives are, what strategies they will use to attain these, and how the strategies will be implemented.
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