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A business plan is a summary of how a business owner, manager, or entrepreneur intends to organize an entrepreneurial endeavor and implement activities necessary and sufficient for the venture to succeed.
An organizations strategy must be appropriate for its resources, circumstances, and objectives.
The process involves matching the company's strategic advantages to the business environment the organization faces.
It is the highest level of managerial activity, usually performed by the company's Chief Executive Officer (CEO) and executive team.
It provides overall direction to the whole enterprise.
Many companies prefer an abridged format that would yield a 10 to 20 page plan.
is the process of specifying an organization's objectives, developing policies and plans to achieve these objectives, and allocating resources so as to implement the plans.
One common belief within business circles is that the actual plan may have little value, but what is more important is the process of planning, through which the manager gains a greater understanding of the business and of the options available.
Specialized sections such as product research and development, legal strategies, marketing research, or inter-company collaborations, are added to deal with unique features or characteristics of the business or its markets.