What outlines the management levels and describes how a business will operate?

The correct answer is the organizational plan, as it specifically details the management levels within a business and outlines how the company will function. This plan includes the structure of the organization, the roles and responsibilities of various positions, the hierarchy, and the processes that govern the workplace. Understanding the organizational plan is vital for employees to know their place within the company and for leaders to implement strategies effectively.

In contrast, supporting documents typically provide additional information that supports a business's operations but do not serve as a comprehensive guide to management or the operational framework of the business. A franchise agreement outlines the terms and conditions between a franchisor and franchisee, focusing more on the relationship and rights than on the internal management structure. Business policies refer to specific regulations or procedures that govern employee behavior and company operations, but they lack the broad overview and structural details that an organizational plan provides. Hence, the organizational plan is the most comprehensive in outlining both management levels and operational strategies.