What is a Business Plan?

WHAT IS A BUSINESS PLAN?

· Written document

· Sets out basic idea underlying a business idea and related startup opportunities

· Details the operational and financial aspects of a company

· Also details its marketing opportunities and strategy

· As well as its management’s skills and abilities

WHAT IS BUSINESS PLANNING?

Business planning is the process whereby a company makes the following decisions:

· What products or services it will deliver

· Where it will compete

· Why the customer should do business with the company

· How it will organize and reengineer itself to accomplish its goals

The plan may be presented through a planning document, but the business plan itself should be a set of management decisions about what a company will be doing to ensure success in the future.

More about business plan:

• Business Plan Help
• Key Elements of a Business Plan
• The Benefits of Creating a Business Plan
• The Purpose of a Business Plan
• The Business Planning Process
• Types of Business Plan in an Organization

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