Preparation of Business Plans
PREPARATION OF BUSINESS PLANS
A business plan is basically an outline of step-wise procedures which is followed to convert business ideas into a booming business ventures. Following task is included in this:-
- Allocate resource in an optimum manner
- Distinguishing internal strength and weakness
- Evaluating the feasibility of ideas
- Examine the external environment for opportunities and threats
- Examine innovative ideas and business possibilities
OBJECTIVES OF A BUISNESS PLANS
- To evaluate the feasibility of business
- To identifying strength and weakness existing in the environment
- To ease the decision making process
- To look for the loans from financial institutions
- To convince others to join the business
- To examine the opportunities and threats in the business environment
- To provide guidance to the vision of the entrepreneurs
- To examine the future probabilities of business
- To examine the progress immediately after the implementation of plans
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