2. When preparing a plan, make it simple
and understandable:
1. Identify the goals and Objectives
2. Formulate strategies on how to achieve goals and objectives
3. Look for resources to finance the plan
4. Then implement the plan
3. Business Plan
• Is a series of business activities that formally lay down, in an
organized plan setting the following:
1. Long-term objectives
a. Vision – the company’s primary goal. It is future-
based and is meant to inspire and give direction to the
organization rather than to the customer. It normally answers
these questions:
i. Why does the business exist?
ii. Where is the business going?
Ex. Vision Statement, “ To inspire and nurture the human spirit-
one person, one cup and one neighborhood at a time”
4. b. Mission - unlike vision, the mission is a present-based
statement. This is the starting point of the company’s
road map.
Ex. Starbucks, the mission statement is:
“To establish Starbucks as the premier purveyor of the
fines coffee in the world while maintaining our
uncompromising principles while we grow.
2. Short-term objectives
3. Strategies
4. Right Financing
5. Implementation
5. Objectives of Business Planning
1. To see the growth of the business
2. To support the business loan application
3. To attract investors
4. To create a new business
5. To sell a business unit
6. To orient new employees
6. Distinctions between a Business Plan and
a Strategic Plan
Business Plan
Provides a written tour of the business operations
as it reviews every area of the business
Can be done by a start-up business or an existing
business to improve its competitive advantage.
Show the amounts of resources, staffing, and
finance that are available to the business
7. Strategic Plan:
Describe how and identifies the business
capabilities to implement the business plan. It
focuses on the business areas.
Prepared for 3-5 years
Defines the strategies for resource allocation
8. Type of Plans
1. Long terms Plans
2. Medium terms Plans
3. Short term Plans
9. Parts of Business Plan
1. The Title Page
2. Executive Summary
3. Description of the Business
4. Description of the products or services
5. Marketing strategies
6. Analysis of Competition
7. Operations and Management
8. Registration requirements
9. Financial Aspects
10. Social Responsibility
