Set of documents prepared by a firm's management to summarize its operational and financial objectives for the near future (usually one to three years) and to show how they will be achieved. It serves as a blueprint to guide the firm's policies and strategies, and is continually modified as conditions change and new opportunities and/or threats emerge. When prepared for external audience (lenders, prospective investors) it details the past, present, and forecasted performance of the firm. And usually also contains pro-forma balance sheet, income statement, and cash flow statement, to illustrate how the financing being sought will affect the firm's financial position.
Use business plan in a sentence
- How to Motivate and Retain Employees â Essentials Every Organization Should Know
- Preparation Needed for Selling a Business
- Importance of Developing Leadership Skills
- Corporate Entrepreneurship and its Importance in Large Companies
- Types of Small Business Loans
- Projected Growth Industries for the 21st Century