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:
“My objection to Liberalism is this—that it is the introduction into the practical business of life of the highest kind—namely, politics—of philosophical ideas instead of political principles.”
—Benjamin Disraeli (1804–1881)
“I have always thought that one man of tolerable abilities may work great changes, and accomplish great affairs among mankind, if he first forms a good plan, and, cutting off all amusements or other employments that would divert his attention, make the execution of that same plan his sole study and business.”
—Benjamin Franklin (1706–1790)