A business plan is a formal written document that outlines the goals of a business, strategies for achieving them, and the time frame for success. It includes market analysis, financial projections, and the organizational structure.
The evaluation of market trends, growth rates, and competition to identify market opportunities for a new or existing business.
Estimates of future income, expenses, and profitability over a specific period, often included in a business plan to forecast economic viability.
Describes the hierarchy of an organization by detailing roles, responsibilities, and relationships between individuals within the company