Meaning of Business Plan:
The business plan is a written document prepared by the entrepreneur that describes all the relevant external & internal elements involved in starting a new venture. It is often an integration of functional plans such as marketing, finance, manufacturing (operation) & human resources. The business plan or the game plan or road map – answers the questions; “Where am I now? Where am I going? How will I get there?” Potential investors, suppliers & even customers will require a business plan. The business plan should be prepared by the entrepreneur; however, he or she may consult with many other sources in its preparation. Lawyers, accountants, marketing consultants & engineers are useful in the preparation of the plan.
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