Question

Question #6

Explain what a business plan is and when one is necessary. Then list five components that should be included in a business plan, describing the type of information that would be included in each.

Answer 1

Bussiness plan is basic outile map of the bussiness which having a proper lanned path to achieve certain goals os that the performance level of organization is increase greatly.one of the most important thing in bussines planning is strategc approch of doing the task. strategic approach is th e foundstion course of any organization.

some of the bussiness component are listed below which is used in business planning:

1. executive planning: in this component the way of doing different task is explaied so that the work should meet the deadline with appropriate achieveents.

2. pre defined goal with structured work: project and work force goal must be pre defiened so that we can only ofcuss about the given task by the project manager.

3. maketing model or strategies: market study is a important componet in bussiness planing which is done by the braistorming of consumer so that we can easisly acheived the required goal.

4. organization guidlines and management: management should be proper and in a better way due to this emplyee should attned some newly founded techniques etx.

5. negotiation policicy models.: cost pricing model and some bidding polices must be defiened so if any correction is made due to any risk the decision must be updated by some negtiation