Definition of Business plan:
Set of documents prepared by a firms management to summarize its operational and financial objectives for the near future (usually one to three years) and to show how they will be achieved. It serves as a blueprint to guide the firms policies and strategies, and is continually modified as conditions change and new opportunities and/or threats emerge. When prepared for external audience (lenders, prospective investors) it details the past, present, and forecasted performance of the firm. And usually also contains pro-forma balance sheet, income statement, and cash flow statement, to illustrate how the financing being sought will affect the firms financial position.
A business plan is a written document that describes in detail how a business — usually a startup — defines its objectives and how it is to go about achieving its goals. A business plan lays out a written roadmap for the firm from each of a marketing, financial, and operational standpoint.
A document setting out a businesss future objectives and strategies for achieving them.
Business plans are important documents used to attract investment before a company has established a proven track record. They are also a good way for companies to keep themselves on target going forward.
How to use Business plan in a sentence?
- A business plan is a written document describing a company's core business activities, objectives, and how to achieve their goals.
- Businesses may come up with a lengthier traditional business plan or a shorter lean startup business plan.
- The company is scheduled to pitch its business plan in June.
- Good business plans should include an executive summary, products and services, financial planning, marketing strategy and analysis, financial planning, and a budget.
- Startup companies use business plans to get off the ground and attract outside investors.
- The company published its most recent business plan in 2014 and distributed it to a group of potential investors and other interested parties.
- The investors knew the business plan was going to change with the ever changing markets but they liked the direction the company was going at the particular moment.
- Ellen started to worry about the new management when they unveiled a vague and somewhat unrealistic business plan during the first meeting with the entire staff.
Meaning of Business plan & Business plan Definition