Business plan for the organization...

Business plan for the organization Business plan for an organization is the document which determines the organizational objectives, strategies and projected actions in order to promote its survival and development within a given time frame. Business plan also focuses on two key aspects namely (i) dealing with risks, and (ii) making profits. Business planning process requires deep investigation, careful evaluation of all factors, which might have an impact on the result, and study of possible results of the actions of the organization. In addition business plan determines management actions for expansion process, designs new ways of for management action and includes revision of all the operations of the organization. Business plan enables organizational management to demonstrate to stakeholders, including founders and investors, that there is potential for considerable growth of the organization in a large market. It also illustrates that the organization is capable of achieving significant market power with a sustainable and differentiated product or service offering. Business plan consists of a comprehensive, written description of the business of the organization. It is a detailed document describing the products or services of the organization, production techniques, markets and customers, marketing strategy, human resources, organization of important activities, requirements in respect of infrastructure and supplies, financing requirements, and sources and uses of funds. Business plan describes the past and present status of the organizational business, but its main purpose is to present the future of the organization. It is normally updated frequently and looks ahead for a period of three to five years normally, depending on the type of business and the kind of the organization. It is a crucial document needed for getting funding support from financial institutions and hence it is required to be complete, sincere, factual, well-structured and reader-friendly document. There...