The Business Planning Process

On August 8, 2009 By

Business plans are decision-making tools. There is no fixed content for a business plan. Rather the content and format of the business plan is determined by the goals and audience. A business plan should contain whatever information is needed to decide whether or not to pursue a goal.

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This might look apparently as a redundant article to “Usage of a Business Plan” but these two are different. This is mainly from your perspective, why you need a business plan. If someone assumes that a business plan is a management gimmick or a waste of time, they cannot be any farther from the truth. Business plan gives you the direction, the plan and many other vital decision making points discussed below.

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A business plan is a formal document which is best if follows a definitive structure. Although there is no hard and fast rules of following a specific structure but it always helps to get the information organized. Moreover the audience of your business plan is primarily a seasoned professional and would expect to see a definitive format. I personally take the conservative path of following a tried and tested structure which has worked in many scenarios.

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Uses of a Business Plan?

On July 29, 2009 By

There are many important reasons for drawing up a business plan. Some of the most significant are the following:
* Getting an integrated view of your business
* Mutual understanding within the management team
* Determining financial needs and applying for funds
* Approval from board of directors/shareholders
* Recruiting
* Deriving objectives for employees
* Informing employees
* Informing lenders
* Informing partners

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A business plan is a comprehensive, written description of the business of an enterprise. It is a detailed report on a company’s products or services, production techniques, markets and clients, marketing strategy, human resources, organization, requirements in respect of infrastructure and supplies, financing requirements, and sources and uses of funds. The business plan describes the past and present status [...]

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What is a Business Plan?

On July 26, 2009 By

A business plan is a formal statement of a set of business goals, the reasons why they are believed attainable, and the plan for reaching those goals. It may also contain background information about the organization or team attempting to reach those goals.

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Business Analytics

On August 27, 2007 By

Analytics is the study of business data using statistical analysis in order to discover and understand historical patterns with an eye to predicting and improving business performance in the future. Some people use the term “Analytics” to denote the use of mathematics in business. This field includes the use of Operations [...]

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Managing Retailing

On August 1, 2007 By

Check out this book, recently out in the market. Written by one of my professors, Prof. Dwarika Prasad Uniyal who taught me the “A, B, C and Ds” i.e 5 C’s and 4 P’s of marketing. Wish you guys could have attended his amazingly interesting and amusingly hilarious [...]

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