DEFINITION OF A BUSINESS 
     PLAN
     Set of documents prepared by a firm's 
       management to summarize its operational 
       and financial objectives for the near future 
       (usually one to three years) and to show 
       how they will be achieved. It serves as a 
       blueprint to guide the firm's policies and 
       strategies, and is continually modified as 
       conditions change and new opportunities 
       and/or threats emerge.
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  BENEFITS OF HAVING A 
  BUSINESS PLAN
   Aids in obtaining financing
   Motivates 
   Sets a sense of direction
   Serves as a measure of performance
   Can be used to plan
   KEY ELEMENTS OF A BUSINESS 
          PLAN
  EXECUTIVE SUMMARY
  An executive summary of a business 
  plan is an overview. Its purpose is to 
  summarize the key points of a 
  document for its readers, saving them 
  time and preparing them for the 
  upcoming content.
  BUSINESS DESCRIPTION
   The name and location of the 
    business
   The nature of the business and 
    product
   Legal structure of the business
   Objectives and mission statement