Business plan in the context of United States Small Business Administration


Business plan in the context of United States Small Business Administration

⭐ Core Definition: Business plan

A business plan is a formal written document containing the goals of a business, the methods for attaining those goals, and the time-frame for the achievement of the goals. It also describes the nature of the business, background information on the organization, the organization's financial projections, and the strategies it intends to implement to achieve the stated targets. In its entirety, this document serves as a road-map (a plan) that provides direction to the business.

Written business plans are often required to obtain a bank loan or other kind of financing. Templates and guides, such as the ones offered in the United States by the Small Business Administration can be used to facilitate producing a business plan.

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Business plan in the context of Agriculturists

An agriculturist, agriculturalist, agrologist, or agronomist (abbreviated as agr.) is a professional in the science, practice, and management of agriculture and agribusiness. It is a regulated profession in Canada, India, Japan, the Philippines, the United States, and the European Union. Other names used to designate the profession include agricultural scientist, agricultural manager, agricultural planner, agriculture researcher, or agriculture policy maker.

The primary role of agriculturists are in leading agricultural projects and programs, usually in agribusiness planning or research for the benefit of farms, food, and agribusiness-related organizations. Agriculturists usually are designated in the government as public agriculturists serving as agriculture policymakers or technical advisors for policy making. Agriculturists can also provide technical advice for farmers and farm workers such as in making crop calendars and workflows to optimize farm production, tracing agricultural market channels, prescribing fertilizers and pesticides to avoid misuse, and in aligning for organic accreditation or the national agricultural quality standards.

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Business plan in the context of Executive summary

An executive summary (or management summary, sometimes also called speed read) is a short document or section of a document produced for business purposes. It summarizes a longer report or proposal or a group of related reports in such a way that readers can rapidly become acquainted with a large body of material without having to read it all. It usually contains a brief statement of the problem or proposal covered in the major document(s), background information, concise analysis and main conclusions. It is intended as an aid to decision-making by managers and has been described as the most important part of a business plan.

An executive summary was formerly known as a summary. It differs from an abstract in that an abstract will usually be shorter and is typically intended as an overview or orientation rather than being a condensed version of the full document. Abstracts are extensively used in academic research where the concept of the executive summary is not in common usage. "An abstract is a brief summarizing statement... read by parties who are trying to decide whether or not to read the main document", while "an executive summary, unlike an abstract, is a document in miniature that may be read in place of the longer document".

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Business plan in the context of Marketing plan

A marketing plan is a plan created to accomplish specific marketing objectives, outlining a company's advertising and marketing efforts for a given period, describing the current marketing position of a business, and discussing the target market and marketing mix to be used to achieve marketing goals.

It is often created together by marketing managers, product marketing managers, product managers, and sales teams. A marketing plan comprises part of an overall business plan.

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