BUSINESS PLAN
Why a company should make a proper business plan?
The business plan is a necessary process for successful business. The primary value of business plan is to create a written outline that evaluates all aspects of the economic viability of business venture including a description and analysis of the business prospects.

First and foremost, it will define and focus objective using appropriate information and analysis.  Enterprisers can use it as a selling tool in dealing with important relationships including lenders, investors and banks.

Secondly, enterprisers can use the plan to solicit opinions and advice from people, including those in intended field of business.

What most important elements should be in a business plan?
The most important elements are:

1. SWOTs
Briefly list major existing strengths, weaknesses, threats and opportunities.

2. Mission Statement
What will the business really be doing? What activities will it perform, where, how etc.? What will the business offer and how will it be competitive?

3. Corporate Values
Describe the values and standards governing the operation of the business and its relationships with society, customers, suppliers, employees, local community and other stakeholders.

4. Business Objectives
Highlight the achievements and broad progress to be realized over the next 3-4 years. These can relate to shareholders, management and business itself.

5. Major Goals
Quantify key targets achievable over next 3-4 years in terms of sales, market shares, finances, operations, technologies, employment, profits etc.

6. Key Strategies
Build on strengths, resolve threats, exploit opportunities and avoid threats. Consider any new dimensions revealed by Vision and Mission.

7.  Executive Summary
Outline up to six major action programs in order of importance. For each, specify what, who, where, how and when.

8. Market Analysis Summary
Analysis the potential markets and the risks, compititions of the markets.

9. Financial Plan
Seeking financial source. Where, how, when etc. And how to flow the capital.