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
· Also details its marketing opportunities and
· As well as its management’s skills and abilities
WHAT IS BUSINESS PLANNING?
Business planning is the process whereby a company makes the following
· 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.
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