Business Plans as a Planning Documents

Business plans are not historical documents about a company’s past performance. Rather, they are planning documents that provide information to decision-makers who can help the company achieve its goals and objectives. These decision-makers may be the company’s own managers and executives, or they may be sources of capital or potential buyers. Regardless of the intended audience, all the business plans address the fundamental strategic issues facing a business. They provide verifiable data and projections covering marketing and sales; production, services, and quality; product development; organization and management structure; and financial requirements. Business plan may be internally or externally focused. Business plans are decision making tools. A business plan is a bind summary of those disciplinary plans. The business goals may be defined both for non-profit or for-profit organizations. The business plan provides a comprehensive framework and direction for ongoing operations.