Creating your Business Plan Part I

Internal Uses of a Business Plan

• Improve performance by identifying the strengths and weaknesses


• Communicates expectation to staff regarding the company’s performance and priorities


• Effectively coordinate and ensure consistency in planning and operations


• Measures performance or the overall company, individuals and managers.

External uses of a Business Plan

• Educate outsider parties regarding the objectives, structure and performance.


• Secure funding from outside investors


• Communicate planned actions (formalized its intentions in the plan)

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