Which of the following is NOT one of the key components of a business plan?

The correct answer highlights that sales reports are typically not considered a key component of a business plan. A business plan generally serves as a roadmap for a business and outlines essential areas that define its future direction.

Key components of a business plan include the executive summary, which provides an overview of the most critical information; market analysis, which examines the industry, target market, and competitive landscape; and financial projections, which forecast financial performance and funding needs. These components are essential for demonstrating the viability and strategic planning of a business.

Sales reports, while relevant in measuring past performance and operational effectiveness, are not part of the forward-looking framework of a business plan. Instead, they tend to represent historical data that would more likely fit within operational or management reports rather than the strategic focus of a business plan.