Question

“An entrepreneur must pay attention to the quantity and quality of the manpower for his business, as it directly impacts the performance and resulting productivity of the organization.”

1. In the light of the aforesaid statement, identify the component of a business plan that helps an entrepreneur fulfill the stated purpose.
2. State the objective and importance of the identified component.

Answer 1

1. Manpower Plan
2. Objective: Right person, at the right job, at the right time.
   Importance: To build up loyal, efficient and dedicated personnel, an entrepreneur needs to pay adequate and proper attention to human resource planning.