Assignment # 2

Submitted to:
Mr. Shahbaz Ahmad
Submitted by:
M. Atiq Ur Rehman
Registration number:
17-ARID-5389
Subject:
Entrepreneurship (MGT-617)
Semester:
BBA-8th
Date:
18-June-21
Question 01

A good friend or yours, Kelly Ford, has decided to leave his corporate job to launcha private
Web marketing firm. He is putting together his business plan and asks you, “I’ve read several
books and articles about how to write a business plan, and there is one point I’m still confused
about. Is a business plan written more for learning and discovering, or is it written more for
pitching and selling?” What would you tell Kelly?

Answer:

Business plan:

A business plan is a formal written document containing the goals of a business, the methods for
attaining those goals, and the time-frame for the achievement of the goals. A good business plan
guides you through each stage of starting and managing your business. You’ll use your business
plan as a roadmap for how to structure, run, and grow your new business. It’s a way to think
through the key elements of your business.

Business plans can help you get funding or bring on new business partners. Investors want to feel
confident they’ll see a return on their investment. Your business plan is the tool you’ll use to
convince people that working with you or investing in your company is a smart choice. The
business plan admits the entrepreneur to the investment process. Without a plan furnished in
advance, many investor groups won’t even grant an interview. And the plan must be outstanding
if it is to win investment funds.

It is the plan of action for business operations which has the goal of creating and growing
sustainable profits. It is necessary for any business venture. A business plan has 3 main purposes:
forming a strategic plan for future business initiatives, serving as a retrospective measure of the
success of the business and its plans for expansion, and an explanation of the business for the
purpose of raising capital. Business plans can vary greatly depending on creator, industry,
operations, and needs, phase in the business cycle, and more.

According to my opinion the business plan written for learning and discovering because it help
to understand the business idea more clearly and efficiently.