Open AccessThe Importance Of A Good Business Plan
Author(s) -
Les Nunn,
Brian L. McGuire
Publication year - 2010
Publication title -
journal of business and economics research
Language(s) - English
Resource type - Journals
eISSN - 2157-8893
pISSN - 1542-4448
DOI - 10.19030/jber.v8i2.677
Subject(s) - span (engineering) , style (visual arts) , product line , strategic planning , management , leverage (statistics) , business plan , business administration , psychology , marketing , business , economics , engineering , computer science , artificial intelligence , art , literature , civil engineering , manufacturing engineering
The business plan is the product of a strategic thinking or planning process. The strategic direction developed in that process can then be communicated in the form of a business plan to lenders, potential investors and associates within your company. The development of a strategic direction is a critical step for your company. It allows your business to leverage the knowledge and competence of its management team, staff and advisors to develop a strategic direction for the organization that will lead to its best chance for success. This gives you an opportunity to use the advising team you have put together.