A business plan outlines key elements that are important for a business to look ahead, allocate resources, focus on important points, and prepare for potential problems and opportunities. While plans can vary in complexity and format, standard elements generally include descriptions of the company, products/services, market, management team, and financial projections. Of these, cash flow analysis and specific implementation details are often among the most important, as profits alone do not guarantee cash and strategies must be put into action through assigned responsibilities, budgets, and tracking of results.