A business plan is a written document whose purpose is to describe the nature of a business: its market and business environment, strategy, operations marketing and sales, investment priorities and expected future financial results.
A business plan is a written document whose purpose is to describe the nature of a business: its market and business environment, strategy, operations marketing and sales, investment priorities and expected future financial results. It should also define the business model and basis for competitive advantage, and operational and financial objectives. It sets goals, explains why those goals are attainable, and articulates a plan for reaching them. It contains financial projections and explains the means by which objectives will be realized. These projections include statements of projected income, cash flow and financial position (balance sheets).
A business plan can be produced for an internal or external audience and can vary in...
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References
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Engel, J.S., Teece, D.J. (2018). Business Plan. In: Augier, M., Teece, D.J. (eds) The Palgrave Encyclopedia of Strategic Management. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-137-00772-8_460
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DOI: https://doi.org/10.1057/978-1-137-00772-8_460
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