SOCI 211 Lecture Notes - Swot Analysis, Debenture, Financial Statement
Document Summary
A business plan has to be particular to the organisation in question, its situation and time. However, a business plan is not just a document, to be produced and filed. The business plan has to be a living document, constantly in use to monitor, control and guide the progress of a business. That means it should be under regular review and will need to be amended in line with changing circumstances. Review previous business plans (if any) and their outcome. This review will help highlight which areas of the business have proved difficult to forecast historically. Be very clear as to their objectives - a business plan must have a purpose. Set out the key business assumptions on which their plans will be based (e. g. inflation, exchange rates, market growth, competitive pressures, etc. ) Take a critical look at their business.