Business Planning – Jasertalents

Business Planning

Business Planning
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  • Published December 30, 2020

Business Planning

A business plan lays out a written roadmap for the firm from marketing, financial, and operational standpoints. Good business plans should include an executive summary, products and services, marketing strategy and analysis, financial planning, and a budget.

Business planning can play out in many different ways. Anytime upper management comes together to plan for the success of a business, it is a form of business planning. Business planning commonly involves collecting ideas in a formal business plan that outlines a summary of the business's current state, as well as the state of the broader market, along with detailed steps the business will take to improve performance in the coming period.

Business plans aren't just about money. The business plan outlines the general planning needed to start and run a successful business, and that includes profits, but it also goes beyond that. A plan should account for everything from scoping out the competition and figuring out how your new business will fit into the industry to assessing employee morale and planning for how to retain talent.