A business plan is a formal statement of a set of business goals, the reasons they are believed attainable, and the plan for reaching those goals. It may also contain background information about the organization or team attempting to reach those goals.
Business plans may also target changes in perception and branding by the customer, client, taxpayer, or larger community. When the existing business is to assume a major change or when planning a new venture, a 3 to 5 year business plan is required, since investors will look for their annual return in that timeframe.
Read more about Business Plan: Audience, Content, Presentation Formats, Open Business Plans, Not For Profit Businesses, Satires
Famous quotes containing the words business and/or plan:
“Never joke at funerals, or during business transactions.”
—Herman Melville (1819–1891)
“People commonly educate their children as they build their houses, according to some plan they think beautiful, without considering whether it is suited to the purposes for which they are designed.”
—Mary Wortley, Lady Montagu (1689–1762)