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A new business venture must develop a comprehensive business plan to borrow money to get started....

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Finance

A new business venture must develop a comprehensive businessplan to borrow money to get started. Companies such as FedEx andNike say they did not follow the original plan closely. Does thatmean that developing the plan was a waste of time for theseeventually successful companies? Why or why not? Please listreferences ,please.

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Success may have different meanings for different business entities FedEx and Nike are brands that were started decades ago and had very less competition at that time in the market Developing a business plan may have helped them in the initial    See Answer
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A new business venture must develop a comprehensive businessplan to borrow money to get started. Companies such as FedEx andNike say they did not follow the original plan closely. Does thatmean that developing the plan was a waste of time for theseeventually successful companies? Why or why not? Please listreferences ,please.

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