L-23 Financial Analysis, Economic Analysis, Ecological Analysis.pptx

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BUSINESS PLANNING/PLAN
A Business Plan is a road map for starting and running a business. A business plan is a blue print of the step-by-step procedure that would be followed to convert a business idea into a successful business venture.
A business plan first identifies an innovative idea, researches the external environment to list the opportunities and threats, identifies internal strengths and weaknesses, assess the feasibility of the idea and then allocates resources ( production/ operation, finance, human resources) in the best possible manner to make the plan successful.
OBJECTIVES OF BUSINESS PLAN/ PLANNING To give directions to the vision formulated by entrepreneur To objectively evaluate the future prospects of business To monitor the progress after implementing the plan. To seek loans from financial institutions To visualize the concept in terms of market availability, organizational, operational and financial feasibility. To guide the entrepreneur in actual implementation of the plan.
Need of Business Plan/Planning

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