Business Planning (Opportunity Development)

characteristics of business planning

• can be misleading because confirmation bias leads to the business complementing the initial idea

• might lead to wrong decisions

• starting a business is a series of fits and starts, brainstorms and barriers

business plan

• strategic management tool

• written document with details on: company decription, product description, customer analysis, competitor analysis, industry analysis, business strategy, operations plan, marketing plan, financial plan, critical risks, development plan

Why write a business plan?

for purpose…

• to increase chances of survival or growth

… or reason

• because they contact government agencies/public suppot agencies

• because writing a business plan is deeply rooted in the industry

• because they have a business education

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