IMPORTANCE/USES OF AN ACTION PLAN TO AN ENTERPRENEUR

 This is a management tool that involves laying out a series of sequenced steps that enable the entrepreneur to implement the planned activities of a business in

a sequenced way to meet its set targets.

IMPORTANCE/USES OF AN ACTION PLAN TO AN ENTERPRENEUR

1. It helps and guides the entrepreneur to remain focused during implementation of his/her business activities.

2. It helps the entrepreneur to identify business obstacles (barriers) in advance and take appropriate measures to overcome them.

3. It helps the entrepreneur to locate the various sources of information and the resources needed for a business.

4. It helps the entrepreneur to obtain feedback on the progress of the business.

5. It helps an entrepreneur to identify strengths, weaknesses, opportunities and threats of his/her business and those of competitors.

6. It serves as a table for implementing the business plan (business activities)

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