0
The disadvantages of a business plan (although there are not many) are that it takes a lot of patience to create one and a lot of your time when you could be doing something else more productive e.g. employing staff members to work at the new business. Also you will find that some of the information that you need to put on a business plan is hard to figure out and you may not even be able to figure them out yet e.g. the budget you need to keep within will take a lot of time to plan.
The biggest disadvantage of a business plan is that having invested so much time in producing such a valuable road map to the future of your business, it is all too easy to put it away in a filing cabinet once the funding is in place. When the business fails to perform to expectation, reading back through the plan will show you what has gone wrong but it may be too late by then. Keep the plan close to hand and review it regularly.
Wiki User
∙ 8y ago
Wiki User
∙ 12y agoBusiness planning requires a massive amount of time and money.
Add your answer:
Earn +20 pts
What are advantages and disadvantages of using vouchers?
what are the advantages and disadvantages of voucher in business
Why does tesco have aims?
A business without aims is a business planning to fail
What are the Disadvantages of controlling costs and budgets in a business?
no
What are the disadvantages of business games training?
One of the disadvantages of business games training is that some people may not be able to adequately assess the risks involved. Other disadvantages are that some of the participants may get bored and others may become robotic in their business approach.
What are the Advantages and disadvantages of workforce planning?
+ Better prepared - getting right people at the right time. + More effective/efficient use of worker. + With workforce planning - more likely to achieve business objectives. - Time consuming to conduct a full plan. - Some plans can be too ambitious - if they are, then it will only be ineffective.
What disadvantages are there in manpower planning?
NOTHING
Disadvantages of manpower planning?
Manpower planning is planning of an organization is to have right number of people with right skills and abilities at right place and at right time. The disadvantages of manpower planning is cultural shift, i-e some employees are inflexible and work in the way they were originally trained. secondly, large investment is needed for training, that can be unsuitable for small businesses.
What the disadvantages of planning?
The disadvantages of planning include the loss of spontaneity and the potential for disappointment. Often, if plans do not go as expected, you might become upset or angry.
What are the disadvantages of planning?
The disadvantages of planning include the loss of spontaneity and the potential for disappointment. Often, if plans do not go as expected, you might become upset or angry.
Advantages and disadvantages of human resource planning?
One advantage to human resource planning is that it helps place the right employee in the right position. A disadvantage is the fact that it is an ongoing process. The business will always work at fine tuning their process.
What are the disadvantages and advantages of Planning Programming Budgeting System?
What are the disadvantages of ppbs
Advantages and disadvantages of business networking?
disadvantages of networking
What are the disadvantages of financial planning?
some disadvatages are cool
What is the first step in business planning?
Data Collection is always the first step in business planning.
What are the effect if there is no business planning?
not successful business
Advantages and disadvantages of operational issues for online business?
The advantages and disadvantages of Aalaamal business across the internet
What has the author Peter J Patsula written?
Peter J. Patsula has written: 'Successful Business Planning in 30 Days' -- subject(s): Business, Business planning, Handbooks, manuals, New business enterprises, Planning
