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Business plan definition

Question
What is the definition of a "business plan"? 
Answer
A business plan is a management document that outlines, details and communicates how a business is to be created, developed and operated. It focuses on the people, facts, financial, strategic and vision. A typical business plan will have all or most of the following fundamental elements:

- Executive summary
- Business description
- Marketing strategies
- Competitive analysis
- Design and development plan
- Operations and management plan
- Funding plan
- Financial forecast
- Resumes of principles
- Supporting documents as appropriate

A business plan serves as a management road map, as well as a tool for acquiring a bank loan or attracting investors.

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Brain Trust contributor: Author of Instant Profits: Making Your Business Pay
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