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busi·ness plan
noun
- 1. a document setting out a business's future objectives and strategies for achieving them: "the company is scheduled to pitch its business plan in June"
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A business plan is a formal written document containing the goals of a business, the methods for attaining those goals, and the time-frame for the achievement of the goals. It also describes the nature of the business, background information on the organization , the organization's financial projections, and the strategies it intends to ...
A business model describes how an organization creates, delivers, and captures value, [2] in economic, social, cultural or other contexts. For a business, it describes the specific way in which it conducts itself, spends, and earns money in a way that generates profit.
Business plan vs growth plan. A business plan focuses on the business goals and background information about the organization and key team members. It is commonly developed for a 3-5 year time frame and is useful when seeking external funding from either banks or investors.
v. t. e. Strategic planning is an organization 's process of defining its strategy or direction, and making decisions on allocating its resources to attain strategic goals. Furthermore, it may also extend to control mechanisms for guiding the implementation of the strategy.
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The Business Model Canvas is a strategic management template used for developing new business models and documenting existing ones. [2] [3] It offers a visual chart with elements describing a firm's or product's value proposition , [4] infrastructure, customers, and finances, [1] assisting businesses to align their activities by illustrating ...
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