What are the dangers if an entrepreneur starts a business without a business plan?

Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
Problem 1.1DQ
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What are the dangers if an entrepreneur starts a business without a business plan?
Expert Solution
Introduction and demerits

An entrepreneur is a person who comes up with an idea to the public domain and introduce the business idea to different investors in which the investors if found business profit potential then pay him a good amount of money to invest in the business and make it successful but very a less number of entrepreneur succeed in starting and succeeding a startup which ultimately causes a lot of money loss of the investors in and in failing the ideas of the business depends on the various factors like if the entrepreneur didn't planned for the business didn't look for the advantages as well as for the advantages which ultimately leads to an great loss of money in this proper planning there may be an issue with the implementation plan or there may be an issue with the staff or the management which is causing a loss to the company so, each and every entrepreneur should try to make a full-proof plan before implementing and inventing the money of the investors along with having a good management which leads to the profit for the organisation.

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