Title: Explain the purpose of a business plan.
Course: Make It Your Business (12151-18) > Section: Understanding a Business Plan

Explanation should address the purpose, vision, and means of operation. The business plan also serves as the company's résumé, explaining the objectives, personal backgrounds, and experience of the owners to investors, partners, employees, and vendors.

Process/Skill Questions

- For whom is a business plan written?
- Why is it necessary to develop a business plan?
- How is a business plan a working document?
- How does a business plan help the business owner communicate vision and goals?
- What are some possible consequences of not having a business plan?
- How can the probability of business success be projected?
- How often should a business plan be edited or changed?