1Introduction to Business Planning

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Learning Objectives

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 ...

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