ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Below are some of the common and key parts of a business plan. Executive summary: This section outlines the company and includes the mission statement along with any information about the company’s leadership, employees, operations, and location.

Detailed explanation-2: -Your business plan is a serious, factual description of your business model, marketing model, revenue model, operations model, build-out and financial projections. In the introduction or company description section, many people include a mission statement.

Detailed explanation-3: -A Mission Statement is a definition of the company’s business, who it serves, what it does, its objectives, and its approach to reaching those objectives. A Vision Statement is a description of the desired future state of the company. An effective vision inspires the team, showing them how success will look and feel.

Detailed explanation-4: -Mission and vision statements play three critical roles: (1) communicate the purpose of the organization to stakeholders, (2) inform strategy development, and (3) develop the measurable goals and objectives by which to gauge the success of the organization’s strategy.