Busines Planning

By: MTD RESEARCH SPECIALISTS  04-04-2012
Keywords: what is research

Business Plan A business plan accurately defines a business, identifies its goals and objectives, and serves as its resume. It supports the business to allocate resources properly, handle unforeseen circumstances, and make calculated business decisions. The importance of a comprehensive, well-thought-out business plan cannot be overemphasised. Much hinges on it - outside funding, credit from suppliers, acquiring potential customers, management of the operation and finances, promotion and marketing of the business, and achievement of the company´s business objectives. The speed with which a loan application is evaluated will depend largely on the comprehensiveness and quality of a submitted business plan. A business profile is a concise description which, among other items of information, includes the company’s history, number and quality of its human resources, financial resources and stability, physical resources, organisational and management structure, past, current and anticipated performance, its reputation, and the standing of its goods or services. A great business profile can engage and attract the right customers or supporters for a business, or it can bore them to sleep, steering them to your competitors. For potential customers, a business needs an intriguing business profile to provide a customer with an understanding of the company's mission, products, services, personnel, uniqueness and value proposition. Without a well-crafted business profile, a company may not be attracting the best suppliers and vendors to help them grow.

Keywords: what is research

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