Creating your Business Plan Part I

Internal Uses of a Business Plan

• Improve performance by identifying the strengths and weaknesses
• Communicates expectation to staff regarding the company’s performance and priorities
• Effectively coordinate and ensure consistency in planning and operations
• Measures performance or the overall company, individuals and managers.

 

External uses of a Business Plan

• Educate outsider parties regarding the objectives, structure and performance.
• Secure funding from outside investors
• Communicate planned actions (formalized its intentions in the plan)

 

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