Key Elements of a Business Plan

Abstract

The company business plan is the most important document a management team prepares because it sets the future direction and financial commitments for the plan period (usually three or five years). Business plans have traditionally been prepared from a collection of departmental plans and collated into one overall plan. This approach suffers from the same deficiencies found in functional organisations, and therefore a business must instigate a business planning process around the fundamental processes which drive it.