BUSINESS PLANNING PROCESS Idea generation: is the first step in the business planning process. This step differentiates entrepreneur from usual business.
An entrepreneur may come up with new business idea or may bring in value addition to existing product in the market. How can the answer be improved? The result of this process is a business plan that serves as a guide for management to run the company. Describing the most critical tasks that must be completed and the time frame for completion, a business plan allows companies to allocate resources to accomplish goals.
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Jul 18, 2014 Produce your business plan document. Weve put together a detailed guide for this topic, so follow along there or consider using an online tool, like LivePlan, to make the process easier. Develop your executive summary last.