What Constitutes A Good Business Plan?
What constitutes a business plan, needs to be defined before one can decide to formulate a good one. To do that, one has to know what a business plan (BP) does, or what is the intent behind it. Perhaps right from the days of the Taylorean era in management, many ambiguous terms got defined, and one of the most well-defined was planning, in general, and business plans (BP) in particular. The importance of BPs became very relevant, as the days grew and today BPs serve a lot of many purposes that include showcasing the company’s intrinsic capabilities, strategies and aspirations to the outside world in clear terminology, and more importantly funding operations at the time of starting a business.
Additionally BPs serve four key roles or stages in the life and term of a business enterprise, at:
-
the establishment stage of the company
-
launch of a new product or activity
-
opening of a new area or segment of the market (local / global)
-
some strategic development impacting on the business structure or framework.
Uses and users: In each of these events or stages, a mixture of dynamic and static data forms part of the happenings, which needs to be documented, in the form
Click here to continue reading
