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Why is a Business Plan Important?

• It forces management to think through the proposed business in detail and to consider tradeoffs
• It enables management to plan company growth and to anticipate changes in a structured way
• It allows goals to be set, against which the project's and participants' future performance can be measured
• It states what the venture will not accomplish
• It enables quick and objective decision making
• It is a persuasive argument for investment funds
• It commits the management team to a common set of goals, and contains a blueprint for achieving those goals
• It becomes a vehicle for communication

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Source: Business Plan Fundamentals PowerPoint document

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Business Plan Fundamentals

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File Type: PowerPoint (ppt)

File Size: 504.5 KB

Number of Slides: 34 (includes cover, transition slides)

Related Topic(s): Business Plan Development

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Initial upload date (first version): Apr 27, 2014

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