Home
>
Strategic Planning
>
Are You Aware of Planning in Business?

Are You Aware of Planning in Business?

Human beings are rational agents. Rationality endorses one to take up planning in every sphere of life from shifting to a new house to marriage, as well as business. A business plan is the first and most significant premise to reach and run a successful business. It is not just that capital that makes a business successful but it is also planning done in a prudent manner that plays a crucial role.

In simple terms a business plan is nothing but a written plan that delineates the monetary or the fiscal structure (an outlay)-for the purpose of either promoting an already established business i.e. to say a new venture or for starting up of a new business. Like map of a building made by an architect prior to its making demonstrates how the building will look like with all its rooms, lawns, lobby etc. similarly a business plan is a guide that presents all the details of a business- from money to the amount of people involved, from the flow of capital invested to the money expected to be accrued in the form of profits, from the predictable rate of growth to the snags one can land into.

A business plan gives an entrepreneur a fair idea of how much investment is required, in what areas and how will it lead to benefits in his business. This in turn enables him to seek loans and finances from the market. For once a business plan is made it becomes trouble-free for the individual to explain his idea (for example if he wants to launch a new product), its uniqueness and the material gains that follow from it. Such a plan well demonstrates the passage of money required to meet a horde targets that one seeks to achieve through his business. It is an easy guide that facilitates navigation to all the crucial aspects of a business like ? the significance and exclusiveness of the idea (business), the chosen native place for it, market planning, the kind of consumers targeted and in what areas, approximate budget involved in promotion or growth of the business, the tentative dates to meet the targets, the key areas and factors of escalation and last but not the least the methodology adopted in this enhancement. All these therefore form the basic components of a business plan.

Besides these an effective business plan for a large scale business can also include the quality and rate of raw materials used, the cost of advertising, the prospects of export details in other countries if any, the mode of transportation-shipping etc.- the chosen companies for it etc. and the names and social status of the owner(s), the partners and the number of employees.

Apart from being a successful key to lure the investors, a business plan also aids in regulation and maintenance of the business involved. For it allows one to cross check the expenditure made once a business gets on wheels. The amount spent can be compared to the one initially thought and written and so it can be visualized against the future demands to be met. Hence the plan acts as a textbook that can always be referred to in order to recollect the preliminary figures as well as dates. In toto,

"A PERFECT BUSINESS PLAN ENSURES A LIFELONG, HAPPY BUSINESS."

Parul jain writes about business plan topics.

shuttle to Midway Beardstown .. Lockport Chicago limo O’Hare

In The News:

The FBI has issued a warning that scammers are impersonating doctors, police and banks using spoofed numbers as "smishing" texts surge nationwide.

Communities with unreliable internet service stand to gain after Amazon's Project Kuiper launched its first full batch of satellites into orbit April 28.

Tech expert Kurt “CyberGuy" Knutsson says unsubscribing from spam might actually backfire. Learn when to avoid it and stop junk effectively.

Tech expert Kurt “CyberGuy" Knutsson talks about how the first nonstop beating heart transplant, called zero ischemic time, at Taiwan hospital changes surgery.

Kurt “CyberGuy" Knutsson: FBI warns of "time-traveling" hackers.

Kurt “CyberGuy" Knutsson talks about a soft, vine-like robot called SPROUT that aids safe survivor rescues in collapsed buildings.

Health insurance giant Blue Shield of California confirmed it had been sharing private health data of 4.7 million users with Google for three years without even realizing it.

Delta and JetZero’s blended wing body aircraft marks a meaningful step toward a cleaner, quieter and more efficient future for air travel.

Recent reports show many common passwords can be cracked in literally seconds. Kurt the CyberGuy explains how to strengthen your passwords.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

Iron, a robot that stands 5 feet, 8 inches tall and weighs 154 pounds, combines advanced artificial intelligence with human-like movement and exceptional vision.

Hertz, the rental car giant, recently confirmed that customer information was exposed through a cyberattack on one of its software vendors.

There are a number of features with AirPods you may or may not know about to take your listening experience to the next level. Kurt the CyberGuy explains.

These 35 Chrome extensions have privacy and security concerns. Tech expert Kurt “CyberGuy" Knutsson says to delete them now.

Tech expert Kurt “CyberGuy" Knutsson says 329,000 mph fusion rocket promises to be fast, disruptive and enable deep-space missions.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

Tech expert Kurt “CyberGuy" Knutsson says a new autonomous AI is a game changer that also raises privacy risks. Is your data safe?

Tech expert Kurt “CyberGuy" Knutsson says robots and drones are revolutionizing fruit farming with faster picking and smarter handling.

Landmark Admin revises May 2024 cyberattack scope to show twice as many people were affected. Kurt “CyberGuy" Knutsson gives tips to help stay safe from an insurance data breach.

Tech expert Kurt “CyberGuy" Knutsson talks about how Yamaha’s hydrogen outboard motor could revolutionize boating with zero emissions.

Tech expert Kurt “CyberGuy" Knutsson reveals how to memorialize or remove a deceased loved one’s Facebook account and protect their digital legacy from misuse or scams.

Tech expert Kurt “CyberGuy" Knutsson says an Apple Watch saved psychiatrist Amanda Faulkner by detecting deadly leukemia early.

Scammers and fraudsters are increasingly targeting the most vulnerable, especially nursing homes and the personal data of their residents. Kurt the CyberGuy has safety tips.

Infected USB flash drives can spread malware among multiple organizations in ways that can easily bypass traditional security systems.

With a fully automated warehouse system and AI-powered robots, Ocado's Hive picks, packs and delivers grocery store orders in just a few minutes.

Are You Aware of Planning in Business?

Strategic Planning