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Outline four reasons that would make an entrepreneur prepare a business plan.

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  • To foresee and avoid mistakes that could be committed in future
  • To identify, strengths and devise ways of dealing with the weaknesses of the business
  • It's a requirement by financiers
  • To help determine required resources and allocate them appropriately 
  • To enable an entrepreneur identify potential market
  • To enable the business organization avoid goal blindness
  • To allocate resources appropriately
  • To use it as a monitory tool
  • To motivate employees
  • To adapt future changes
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