BUSINESS PLAN :
Definition (wikipedia):
A business plan is a formal statement of a set of business goals, the reasons why they are believed attainable, and the plan for reaching those business goals. It may also contain background information about the organization or team attempting to reach those goals.
The business goals being attempted may be for-profit or non-profit. For-profit business plans typically focus on financial goals. Non-profit and government agency business plans tend to focus on service goals. Business plans may also target changes in perception and branding by the customer, client, tax-payer, or larger community. A business plan that has changes in perception and branding as its primary goals is called a marketing plan.
Business plans may be internally or externally focused. Externally focused plans target goals that are important to external stakeholders, particularly financial stakeholders. They typically have detailed information about the organization or team attempting to reach the goals. With for-profit entities, external stakeholders include investors and customers. External stake-holders of non-profits include donors and the clients of the non-profit's services. For government agencies, external stakeholders include tax-payers, higher-level government agencies, and international lending bodies such as the IMF, the World Bank, various economic agencies of the UN, and development banks.
Internally focused business plans target intermediate goals required to reach the external goals. They may cover the development of a new product, a new service, a new IT system, a restructuring of finance, the refurbishing of a factory or a restructuring of the organization. An internal business is often developed in conjunction with a balanced scorecard or a list of critical success factors. This allows success of the plan to be measured using non-financial measures. Business plans that identify and target internal goals, but provide only general guidance on how they will be met are called strategic plans.
Operational plans describe the goals of an internal organization, working group or department. Project plans, sometimes known as project frameworks, describe the goals of a particular project. They may also address the project's place within the organization's larger strategic goals.
Free Sample Business Plan
Remember that your plan should be only as big as what you need to run your business. While everybody should plan a outline to help run a business, not everyone needs a complete formal business plan unless you are submitting to a potential investoror bank. You can use a less formal plan to outline what your goals to run your business if you don't need investors to stay in track of your progress. Many business owners get lost after a while, and that my friends is one of the ways how businesses fail... |
Design Your Plan to Fit Your Business
Business planning is about results. For every business plan, you need to make the contents of your plan match your purpose. Don't accept a standard outline just because it's there.
In the United States business market there is a standardization about business plans... |
Five Business Plan Mistakes
If you are preparing to raise capital from either an investor or a bank, you’re probably writing a business plan. Here are five of the most common mistakes that I have seen as a result of my experience as a commercial banker and corporate-finance consultant... |
Do I Need a Business Plan
Not everyone who starts and runs a business begins with a business plan. It all depeneds on what size and kind of business. If you are a freelance designer or you are a one man show data entry business... |
How to Write a Business Plan
Writing a business plan can be overwhelming. Your not going to be able to sit down at your computer and crank out a plan. Just like everything else that is worth doing, you need to take the time and aquire some information.... |
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