Business Plan:

The business plan defined as a formal, written documents which describes the nature of the business,
operations and strategies for the firm.

Industry Analysis:
Industry analysis for an entrepreneur or a company, is a method that helps to understand the company’s
position relative to other participant in the industry. It helps them to identify both the opportunities and
threads coming their way and gives them a strong idea of the present and future scenario of the industry.
The key to surviving is to ever changing business environment is to understands the difference between
yourself and your competitors in the industry and use it to your full advantage.
Types
1. Competitive Forces or Porter’s Five Forces:
Michael Porter developed this models it gives a true impression of the industry. It includes
1.1 Industry Rivalry:
The numbers of already established rival companies, no product differentiations, high fixed cost and
slow growth are the factors that impact in the competition in an industry.