As an Amazon Associate I earn from qualifying purchases.

Business Plan Definition and Explanation PDF | Download eBooks

Learn Business Plan definition in strategic management with explanation to study “What is Business Plan”. Study business plan explanation with strategic management terms to review strategic management course for online MBA programs.

Business Plan Definition:

  • A written document that summarizes a business opportunity and defines and articulates how the identified opportunity is to be seized and exploited.

    Management by Stephen P. Robbins, Mary A. Coulter

Business Plan Explanation:

A business plan is a formal composed record containing business objectives, the strategies on how these objectives can be accomplished, and the time span inside which these objectives should be accomplished. It likewise portrays the idea of the business, foundation data on the association, the association's budgetary projections, and the systems it means to actualize to accomplish the expressed targets. Completely, this record fills in as a guide that gives guidance to the business. Composed marketable strategies are regularly required to acquire a bank credit or other sort of financing.Business plans might be inside or remotely engaged. Remotely engaged plans draft objectives that are imperative to outside partners, especially money related partners. These plans commonly have nitty gritty data about the association or the group trying to arrive at its objectives.

Keep Learning Strategic Management Explanations

What is Mass Production?

Large scale manufacturing is the production of enormous amounts of institutionalized items frequently utilizing mechanical production systems or robotization innovation. ...

What is International Monetary Fund (IMF)?

The International Monetary Fund (IMF) is an association of 189 nations, attempting to cultivate worldwide money related collaboration, secure budgetary ...

What is Strategic Flexibility?

Strategic adaptability is the capacity of an association to react to real changes that occur in its outside condition by ...

What is Unity of direction?

The rule of unity of direction states 'One Head One Plan'. It implies that every one of the representatives having ...

What is Theory X?

A normal representative inherently dislikes work and attempts to escape it at whatever point conceivable. Since the representative does not ...

What is High-High Leader?

Under the model, effective initiative is both undertaking applicable and relationship-important. It is a versatile, adaptable style, whereby pioneers are ...