Crafting a Business Plan
Part 1: The Contemporary Business Environment
Goal of the Exercise
In Chapter 3 , we discussed how the starting point for virtually every new business is a business plan. Business plans describe the business strategy for any new business and demonstrate how that strategy will be implemented. One benefit of a business plan is that in preparing it, would-be entrepreneurs must develop their idea on paper and firm up their thinking about how to launch their business before investing time and money in it. In this exercise, you’ll get started on creating your own business plan.
Exercise Background: Part 1 of the Business Plan
The starting point for any business plan is coming up with a “great idea.” This might be a business ...
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