What Is Business Plan?

A statement which describes the business goals, and plans to achieve those goals is known as a business plan. All of the organizations have business plans regardless of the nature of the organization (either profit for or not-for-profit for). The business plan of a profit-for organization generally focuses on the financial goals while that of a non-profit organization focuses on social benefits and on various other objectives. The primary objective of a business plan is the marketing plan but it is different from a marketing plan because it also considers all other aspects of doing business like legal issues, different departments, organizational hierarchy, capital structure etc. A business plan which is based on the attainable goals and clear objectives are more capable to get successful.

Scope and application of business plan