ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -A business plan is a written document prepared by the entrepreneur that describes all the relevant external and internal elements involved in starting a new venture. A business plan is the blue print of step by step procedure that would be followed to convert a business idea into a successful business venture.

Detailed explanation-2: -A business plan is a document that defines in detail a company’s objectives and how it plans to achieve its goals. A business plan lays out a written road map for the firm from marketing, financial, and operational standpoints.

Detailed explanation-3: -Process documentation is a detailed description of how to execute a process. The process document outlines the exact steps needed to complete a task or process from start to finish.

Detailed explanation-4: -A business plan is a document that outlines your business’s financial goals and explains how you’ll achieve them. A strong, detailed plan will provide a road map for the business’s next three to five years, and you can share it with potential investors, lenders or other important partners.