Business – 1.1 Enterprise – Business plans | e-Consult

Internal purposes:

• Provides a clear strategic direction and sets measurable objectives.
• Acts as a management tool for allocating resources and monitoring performance.
• Facilitates communication and alignment among team members.
• Identifies potential risks and outlines mitigation strategies.

External purposes:

• Demonstrates the viability of the venture to investors, banks, and lenders.
• Serves as a basis for negotiating partnerships or joint ventures.
• Provides credibility with suppliers, customers, and regulatory bodies.
• Helps attract talent by showcasing growth prospects.