Which of the following is NOT a phase in the business planning process?

The correct choice indicates that "Monitor financial outcomes" is not a phase in the business planning process, and this is based on the typical stages that comprise comprehensive business planning.

In a standard business planning framework, phases such as defining business objectives, assessing the market, and finding the business are integral.

Defining business objectives establishes clear goals that guide the overall direction of the organization. Assessing the market involves analyzing potential customers and competitors to inform strategic decisions. Finding the business relates to identifying opportunities or niches where the business can thrive.

On the other hand, monitoring financial outcomes, while critically important for ongoing operations and evaluation after a business plan has been implemented, does not constitute a phase in the initial planning process itself. It is often seen as a step that occurs post-implementation to measure success and adjust strategies, rather than a part of the foundational planning stages where objectives and market conditions are first defined.