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1. provide or enhance good industrial relationship.
2.Assist in effective decision making
3.Help to solve conflicts
4.increase production
5.lead to the achievement of the goals
Additionally, in today's volatile political, economic and financial environment, the business plan may serve as a 'door opener' to the capital markets; however, to raise capital, additional 'full disclosure' information, not in the business plan, must be provided to prospective investors. The business plan may help form the foundation for these additional documents.
When we review a business plan, with an eye toward possible investment, we focus upon the management team and the cash flow summary. A properly created cash flow summary, oftentimes not available from the on-line services, will identify the cash required to achieve the company's e.g., 3 or 5 year goals.
Wiki User
∙ 12y ago
Wiki User
∙ 7y agoA business that earns a good profit usually means that the business has a good plan for selling its products. Having a business plan does not guarantee a profit, however, it is rare for any business to be profitable without planning in advance for product manufacturing, predicted costs of manufacturing, and good market research to determine if a product has a market and what the price of the product should be in order to be competitive.
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What is the importance and advantages of a business plan?
The importance of business plan is that a person can able to determain which business may give out more profit in that environment and social activities,and its advantage is that they able to mantain thier scarcity.
Importance of Strategic management to business growth?
It is a plan to grow a business at a reasonable rate. If the business grows too slowly, there is not enough profit to keep the doors open, and if it grows to fast, the economic resources of the business cannot keep up with the growth.
What are the elements of a business plan?
set goals for the business marketing scheme purchasing plan legal set of the business.....these are the elements of a business plan
What is a business plan. Discuss the purpose and significance of a business plan?
in simple words, business plan is formal statement of business goals and objectives over the next firve years. the main pursose of the preparing business plan is perpare comprehensive strategy detailing how and why the business will be successful and how business will take on its competitors.
Why is business plan necessary?
you can not start a business without one and if you do you will most likely fail. you have to plan costs, budget,staff,location,advertisng etc. just like you would plan for a holiday you have to plan for a business
What is the importance and advantages of a business plan?
The importance of business plan is that a person can able to determain which business may give out more profit in that environment and social activities,and its advantage is that they able to mantain thier scarcity.
Importance of contingency plan?
A contingency plan is like a backup plan. It is vital to have one in any business. That way, if the current business plan fails, the owner will have another option.
What is the importance of preparing and using a business plan?
A business plan is similar to a sat nav, it shows you how to get where you wish to get. It answers the question, "Where are we now? Where do we want to get? How do we get there?
Importance of strategies?
A business strategy is important because it sets the direction the business will follow to success. With a strategy, a business can develop a clear plan to compete with their competitors.
What is the importance of start up costs to a business?
Start up costs need to be included in your "Business Plan" that all businesses have before starting any business.
What is the importance of a business plan in managing business growth and survival in a competitive environment?
Business plan enables you to easily foresee what you are doing and where are you going. When problems occurs, you can easily solve it. You can be more flexible when changes occurs in the environment.
What is the importance of drafting a proper marketing plan before you start a business?
A marketing plan lays out the details of a new business, and takes into account startup costs, licensing, and expected revenue. It is crucial for securing a loan to start a business.
What is the importance of planning in a business organization?
It's important to plan in a business organization because the lack of planning can cause problems that otherwise wouldn't be there. It is wise to plan ahead for personnel, finances and other factors.
The importance of profit to a business like HMV?
the importance of profit to a business?
What is the Importance of business in your daily life?
importance of business in our daily life
Importance of demography in business and commerce?
importance of dempgraphy in business and commerce
How do you transfer a business plan to an action plan?
How to transfer business plan to an action plan
