Essay about The Purpose of a Business Plan in a Company

Essay about The Purpose of a Business Plan in a Company

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Why we develop a business plan in any company?
A business plan is written summary of a business man’s proposed business, plan is an operational and financial details, plan is marketing opportunities and strategy and also plan is manager’s skills and abilities.
Every business must do the plan because there is no substitute for well-prepared plan. The plan is very important in the business because the plan helps business man in his journey to building successful business.
“A business plan should be the place where the map is drawn, for, as every traveler knows, a journey is a lot less risky when you have directions” (one writer says that).
A business plan describes the direction the company is taking, for example what goals are and where it wants to be.
The business plan has two essential functions:
1) Plan manages the company’s operation by charting its future course and developing strategy.
2) The plan gives a battery of tools, mission statement, goals, objective, budgets, target market, and strategies.
The planning to help managers lead the company successfully and also provides man...

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