Do you agree with this analysis why or why not?

The process of setting objectives and devising actions to achieve those objectives" or planning refers to certain inquires such as what form of business the entrepreneur should get in to, what the cost will be, marketing and sales strategies, manpower, and expected returns on investments, or revenue (Byrd, pg. 125). Understanding these key elements will assist in efforts to secure investors because it offers them an opportunity to investigate whether or not the venture will be successful. Properly planned businesses will lure shareholders into investment, usher owners and staff in operations, provide guidance and drive, and attract the appropriate marketing strategies for consumers and future employees (Byrd, 125).

Strategic Planning "provides comprehensive long term direction to help a business accomplish its mission" (Byrd, pg. 127).