A business plan is referred to as a formal declaration of a laid down business objectives, and how they are to be implemented.
A business plan paper can also comprise of background data about the company or group attempting to achieve those objectives.
A business plan does not necessarily have to be for an emerging company, but it can also be prepared by an existing organization in the intention to change the perception and branding of its products and services by clients, consumers, and the society as a whole.
A business plan is often prepared with goals set for 3 to 5 years so that investors and other stakeholders can recoup their annual returns in the 3 to 5 year period.
A business plan can be internally or externally centered according to the target audience. For instance, an externally focused business plan objectives are significant to external stakeholders, principally the financial stakeholders. The external stake holders are well informed about the planned attempts to achieve the business objectives.
In a business plan for-profit organization, the major external stakeholders include customers and investors. Major external stakeholders for non-profit organizations include clients and donors. An internally centered business plan aims at achieving the short-term and medium term objectives necessary to achieve the external objectives. This type of a business plan may include objectives such as the development of a new information technology system, restructuring of the company’s management structure, refurbishment of a manufacturing facility or the development of a new product and service. If you need a custom business plan – you can easily contact professional writing services and order your business plan paper online.