1Introduction to Business Planning
By the end of this chapter, you should be able to:
• Define business planning.
• List the objectives and uses of a business plan.
• Explain how the objectives of a business plan intended for external audiences differ from those intended for internal audiences.
• List and describe the key components of a business plan.
• List and describe the key steps in the business planning process.
• Define the key requirements of an effective business plan.
As we approach the twenty-first century, the need for business planning has never been more apparent. Businesses today are confronted with increasing ...