Answer to Question #189543 in Economics for ntombi mshango

Question

Beauty First is a Proudly South African company that produces beauty products from natural ingredients. Kiki, the chief executive officer (CEO) of Beauty First, is updating the organisation's initial business plan, as she wants to approach the bank for an additional loan to finance the upgrading of the laboratory. She has explained that it is a private company within the retail industry. She has also included a brief history of the company. Which section of the business plan is Kiki busy with?

1 Executive summary

2 General company description

3 Marketing plan

4 Management plan

Answer 1

The general company description is the first part of the business plan that will actually be written. This section provides a general direction of the business and outlines the company for potential investors or potential partners.

So, the correct answer is 2.