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As a rule, a new business venture must develop a comprehensive business plan to borrow money to get started. Existing companies such as FedEx and

As a rule, a new business venture must develop a comprehensive business plan to borrow money to get started. Existing companies such as FedEx and Nike say they did not follow the original plan closely. Does that mean that the task of developing a business plan was a waste of time for the eventually successful companies? Explain your answer.

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