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:
“A grocer is attracted to his business by a magnetic force as great as the repulsion which renders it odious to artists.”
—Honoré De Balzac (1799–1850)
“To choose one’s victims, to prepare one’s plan minutely, to slake an implacable vengeance, and then to go to bed ... there is nothing sweeter in the world.”
—Josef Stalin (1879–1953)