Definition Of A Business Plan

Definition Of A Business Plan-16
The business plan describes to investors and financial sources all of the events that may affect the proposed venture.

The business plan describes to investors and financial sources all of the events that may affect the proposed venture.

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A business plan can also represent a product line, an individual product, a line of service products, or some other part of a larger business entity.

For companies in private industry, the heart of the business plan is a business model and business strategywhich describe how and where the company expects to make and spend money.

All other parts of the business plan stem from the model.

Business plans usually look forward in time for a period of one to three years to a "planning horizon," which moves forward periodically with reviews and updates.

It includes the goals a business wants to achieve, the plan to reach those specific goals, and other pertinent information. In a marketing focused organization the marketing plan is the business plan and considers all aspects of successfully bringing a product or service to market.

However if you're in a business context such as pitching your business ideas your business plan will be more focused around projected earnings and a timing plan.These fall into two parts: first a statement is needed describing the business.This sounds too simple, but it is needed if a business is to marshal its strengths and not waste its efforts going into areas where it has no experience.In some professional areas the business plan is referred to as a venture plan, a loan proposal or an investment prospectus.Whatever the name, the business plan is the minimum document required by any financial source.And, once the company is operating, the business plan becomes a living document, which management reviews and revises at least quarterly.he business plan has a long-term view of the business and its environment.Business plans for different organizations will differ somewhat in content and structure, but most are designed to address two fundamental kinds of questions: Founders and owners typically develop an initial business plan before startup.They build the plan anticipating using it as a tool for supporting their requests for investment capital or loans to start the business.Will you have the survival skills to master our quiz? business plan is merely a "plan for the business," where the business may be a profit-making company, a government organization, or a non-profit organization.


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