What is a business plan? And what are its objectives?

Dear Zain

In simple words, a business plan is a strategic layout of your business idea. It shows the path on which one have to move to come out with best business outcomes. The plan also provides an idea of accountability of business proposal. Objectives of the business plan includes:

1. what is your expectation from the business setup

2. where you want to reach after 3-4 years of running the business.

3. How much profit you want to earn (based on calculations included in plan).

the answers to these questions can become your objective.

A Businessplan:

Succinct mapping out, in a structured framework, an optimal roadmap  for the various components (Marketing/Sales/Administrative/HR) of the business. IT IS AFTER ALL A TEAM EFFORT. Ideally developed in conjunction with the team (not only for their buy in, but also for their key pespectives).'Dove-tailing' the team in one direction for optimal goal attainment is what a well thought out Business plan should achieve, (whilst the traditional 'framework of Product,market analysis and so on is followed as a guideline,...the traditional 'framework' can be adapted to 'out of the box' approaches

Finally,  an executive summary at the end instead of the start makes sense as often hindsight of said plan is 20/20 vision enabling the reader to better comprehend the summary!

My Best regards.

A business plan is a document initiating the start up of an organistion. It has the following objectives:

To help portray the true situation of an organisation as a prelude to determining  way forward in a defined market.

To serve a roadmap and reference point in the delivery of an organisation's operations.

To serve as a metric for measuring organisational performances

To guide the effective mobilisation of required resources in the implementation of organisation's ctivities

A business plan is a written document that shows, for a given period, all adopted business decisions. It shows the procedure to follow and respect for subsequent actions. It thus facilitates consistency and progression of different activites.It also serves as a basis for comparison to assess the results and performance of the marketing function.

The objectives of the business plan are:

• Marketing Function
• Activity
• Range 
• Product

A business plan is a draft for set of following

• Risk Assessment
• Cost/benefit analysis
• KPI's
• SWOT analysis
• Scope and Limitations of plan
• Stakeholder analysis
• Budget analysis

Thanks for your invitation. Business Plan is the work program for the plan execution to develop the business in the specific Products & System. This strategic plan may continue for one year or more as per the market situation and it is expected to be amended from time to time as per the results got in the selling. As the main task of BP enhances the current Business and create a new business opportunities with the existing customers & new customers. the Objectives as follows :

1- Getting some progress in the Business/Products & Services

2- Driving your daily & weekly work to specific goals & target budget confirmed in the plan

3- Knowing howmch earning each year to allocate the percentage of the success or the failure in the plan

4- Improve your understanding to the market and its trends to develop the performance

A bussiness plan is to provide a complete overview of your concept bussiness , product or service. To plan how to make this concept into reality keeping in view of each and every single point to execute it and make it successful in a long run. To me the objectives of a bussiness plan should be SMART:

• Specific
• Measurable
• Achievable
• Realistic
• Timed

Thanks for invitation

I amagreeing with my colleague’s answer