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Business plan
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This is a summary article that covers many topics related to business plans - their content, how they are used, legal issues, and spoofs of business plans, among others. - please see individual sections for links to detailed discussions of various topics relating to business plans.
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A
business plan
is a formal statement of a set of business goals, the reasons why they are believed attainable, and the plan for reaching those goals. It may also contain backgroundinformation about the organization or team attempting to reach those goals.The business goals being attempted may be for-profit or non-profit. For-profit business plans typically focus on financial goals. Non-profit and government agency business plans tend to focus on service goals, although non-profits may also focus on maximizing profit. Business plans may also target changes in perception and branding by thecustomer, client, tax-payer, or larger community. A business plan having changes in perception and branding as its primary goals is called amarketing plan.Business plans may be internally or externally focused. Externally focused plans targetgoals that are important to external stakeholders, particularly financial stakeholders. They
typically have detailed information about the organization or team attempting to reach thegoals. With for-profit entities, external stakeholders include investorsandcustomers.
For government agencies, external stakeholders include tax-payers, higher-level government agencies, and international lending bodies such as theIMF, the World
Bank , various economic agencies of theUN, anddevelopment banks.
Internally focused business plans target intermediate goals required to reach the externalgoals. They may cover the development of a new product, a new service, a new ITsystem, a restructuring of finance, the refurbishing of a factory or a restructuring of theorganization. An internal business is often developed in conjunction with a balancedscorecardor a list of critical success factors. This allows success of the plan to be
measured using non-financial measures. Business plans that identify and target internalgoals, but provide only general guidance on how they will be met are calledstrategic plans.
project frameworks
, describe thegoals of a particular project. They may also address the project's place within theorganization's larger strategic goals.
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