Meaning Of A Business Plan

Meaning Of A Business Plan-57
In other words, business plan serves like a kind of big road map to reach the destination determined by the entrepreneur.

Tags: Sample Dissertation ProposalsOwl Homework AnswersCritical Cultural Education Essay History Knowledge SchoolingEssay Writers FreeLesson Plan Writing An Essay In Social Studies ClassHigh School Life EssayProblem Solving With Linear EquationsMarijuana Should Be Legal EssayPublic Policy Analysis EssayLiterary Essay On Ozymandias

The business plan that a company comes up with also serves as a reference point.

It helps you determine whether or not you have drifted from your original vision and in case you have, it helps you get back on track.

A good project report or business plan should contain the following contents: 1. Schedule of Implementation Arguments are made for and against writing a business plan.

General Information: Exact location of the project, lease or freehold, locational advantages. Land and Building: Land area, construction area, type of construction, cost of construction, detailed plan and estimate along with plant layout. Plant and Machinery: Details of machinery required, capacity, suppliers, cost, various alternatives available, cost of miscellaneous assets. Production Process: Description of production process, process chart, technical knowhow, technology alternatives available, production programme. Utilities: Water, power, steam, compressed air requirements, cost estimates, sources of utilities. Transport and Communication: Mode, possibility of getting, costs. Raw Material: List of raw material required by quality and quantity, sources of procurement, cost of raw material, tie-up arrangements, if any, for procurement of raw material, alternative raw material, if any. Manpower: Manpower requirement by skilled and semi-skilled, sources of manpower supply, cost of procurement, requirement for training and its cost. Products: Product mix, estimated sales, distribution channels, competitions and their capacities, product standard, input-output ratio, product substitute. Market: End-users of product, distribution of market as local, national, international, trade practices, sales promotion devices, and proposed market research. Requirement of Working Capital: Working capital required, sources of working capital need for collateral security, nature and extent of credit facilities offered and available. Requirement of Funds: Break-up of project cost in terms of costs of land, building, machinery, miscellaneous assets, preliminary expenses, contingencies and margin money for working capital, arrangements for meeting the cost of setting up of the project. Cost of Production and Profitability of first ten years. The argument advanced against writing business plan is that it involves costs especially when some outside consultant or accountant or lawyer is hired to write the business plan.

One of the reasons for not writing business plan is the fear of prematurely closing off the new venture.

The major argument made in favour of writing business plan is reducing anxieties and tensions in running business enterprise.

to serve as a road-map in setting up a business enterprise.

Having gone through the significance of business plan, it is now clear that there is no substitute for a well-prepared business plan or project report and also there are no shortcuts to preparing it.

In simple words, business plan is a written statement of what an entrepreneur proposes to take up.

It is a kind of guide frost or course of action what the entrepreneur hopes to achieve in his business and how is he going to achieve it.


Comments Meaning Of A Business Plan

  • Business Plan Definition What Is a Business Plan?

    However, the same studies have shown that individuals who take the time to write a business plan are 2.5 times more likely to follow through and actually start a business. In addition, going through the process of creating a business plan improves entrepreneurial skills.…

  • What is a business plan? definition and meaning.

    The company published its most recent business plan in 2014 and distributed it to a group of potential investors and other interested parties. 16 people found this helpful 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.…

  • BUSINESS PLAN meaning in the Cambridge English

    Business plan definition 1. a detailed plan describing the future plans of a business 2. a detailed document describing the future plans of a business. Learn more.…

  • What Is a Business Plan? Bplans

    In its simplest form, a business plan is a guide—a roadmap for your business that outlines goals and details how you plan to achieve those goals. Here's what a business plan entails, and how to choose what type is right for your business.…

  • Business plan - Wikipedia

    Traditionally business plans have been highly confidential and quite limited in audience. The business plan itself is generally regarded as secret. An open business plan is a business plan with unlimited audience. The business plan is typically web published and made available to all.…

  • Business plan definition and meaning Collins

    A business plan is a detailed plan for setting up or developing a business, especially one that is written in order to borrow money. She learned how to write a business plan for…

  • How to Define Operations in Your Business Plan -

    In the lineup of key business capabilities in your business plan, the term operations describes the processes and resources that you use to produce the highest quality products or…

  • Business Plan Definition - Investopedia

    In a business plan, a business owner projects revenues and expenses for a certain period of time and describes the operational activity and costs related to the business.…

The Latest from ©