A business plan is a formal statement of the business goals, their justifications and the procedures planned to be undertaken to achieve those goals. Business goals are mostly financial in nature whereas non-profit goals such as service goals are also under the ambit of business goals of certain companies. While business plans can be both externally as well as internally focused, the essential feature of a business plan is writing of the plan where the role of the business plan companies becomes fundamentally important. Writing of the business plan means that the goals of the business are well documented.
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