What are the most important parts of a business plan? Give the parts and discuss each. .
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The component of business plan includes:
1) Introduction: Introduction is the first component of the business plan. This section includes basic information such as the name, address and the phone number of the corporate office of the business. It also includes the date at which the plan was issued and a statement of confidentiality. Here the statement of confidentiality is a non disclosure agreement to keep the important information away from the potential competitors (Harper, 2006).
2) Executive summary: Generally a business plan starts with the executive summary. Executive summary generally is of one or two pages in length. It includes the essence of the proposed business venture. It comes first in the plan but is written after rest of the components of the plan are completed. It generally an overview of the complete business plans and hence gives a quick recap the business. It gives a short description of management team, its legal form, the specific markets to be served, business competitive advantages, its projected rate of ...
The solution discusses what are the most important parts of a business plan and gives the parts.