How To Evaluate A Business Idea For Developing An Enterprise
Why Do You Need A Business Plan? Planning is a process that never ends for all businesses. It is extremely important in the early stages of any venture when the entrepreneur will need to prepare a preliminary business plan. There are different types of plans that may be part of any business operation. These include but not limited to Financial plans, Marketing plan, Human Resource plan, Production plans, Sales plans etc. Plans may be short term or long term or may be strategic or operational. Whatever the type of plan or the function, plans have one important purpose; to provide guidance and structure to management in a rapidly changing market environment. A business plan on the other hand is a written document prepared by the entrepreneur that describes all the relevant external and internal elements involved in starting a new venture. It is often an integration of functional plans such as marketing, finance, manufacturing and human resources. It also addresses both short term and lon...