Business Plan

• The business plan is a planning tool.
• Business plan is written for a purpose and describes an actual or intended organization, what the organization is trying to achieve or become and how it will achieve its objectives, including both timing and how tasks will be allocated.
• Organizations frequently draw up business plans because outsiders (especially sources of finance) expect or demand them.
• Great efforts are made to produce business plans which are then only superficially assessed and discarded once they have achieved their real objective (usually raising money).
• Organizations need to plan far more than they do and need the focus and clarity a business plan can give.
• If a business plan is written or created, it is vital that it is implemented.
• Implementation depends firstly on everyone understanding and having faith in the plan. Next, the people implementing the business plan or having to change what they do must support the plan, and have the necessary time and skills to make the change.
• Business plan is for long term.
• A business plan is a detailed document that outlines an organization’s goals, strategies, and operational plans.
• Business plans provide clarity and direction