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Business Plan by Dr.Vidya Hattangadi

Business Plan by Dr.Vidya Hattangadi

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Published by naik irshad

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Categories:Types, Business/Law
Published by: naik irshad on Dec 31, 2009
Copyright:Attribution Non-commercial

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01/10/2012

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BUSINESS PLANBUSINESS PLAN
 
Dr.Vidya HattangadiDr.Vidya Hattangadi
 
Why make a business plan?Why make a business plan?
A business plan is a Road Map of a business. RegularA business plan is a Road Map of a business. Regularreviews of a business plan are a must for a business as itreviews of a business plan are a must for a business as itguides the entrepreneur to take the right measures andguides the entrepreneur to take the right measures andmake the right strategies for his business.make the right strategies for his business.
Every business must have a business plan for it irrespectiveEvery business must have a business plan for it irrespectiveof whether the business needs financial assistance or not.of whether the business needs financial assistance or not.
Irrespective of the size of the business, it is important for anIrrespective of the size of the business, it is important for anentrepreneur to make a formal business plan because:entrepreneur to make a formal business plan because:
It helps the entrepreneur and his management to clarify,It helps the entrepreneur and his management to clarify,focus and research their business.focus and research their business.
 
Why make a business planWhy make a business plan
It provides a considerable and logical framework withinIt provides a considerable and logical framework withinwhich business can develop and pursue strategies overwhich business can develop and pursue strategies overyears.years.
It serves as a basis of discussions with third parties such asIt serves as a basis of discussions with third parties such asshareholders, agencies, banks, investors etc.shareholders, agencies, banks, investors etc.
Offers benchmark against which actual performance canOffers benchmark against which actual performance canbe measured and reviewed after suitable intervals.be measured and reviewed after suitable intervals.
No two business plans can look alike, as no two businessesNo two business plans can look alike, as no two businessesare alike. Some issues can be relevant for some businessare alike. Some issues can be relevant for some businessbut need not be relevant for every business. Tailoringbut need not be relevant for every business. Tailoringcontents into the business plan as per requirement iscontents into the business plan as per requirement istherefore an art.therefore an art.

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