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Your Business Plan is a critical blueprint that must be followed for your organization's success. It should be used for expansion, acquisition, starting a new business, introducing a new product and when entering a new market. A well thought out Business Plan should include:
- Mission, Goals and Objectives
- History and Culture
- Market Analysis
- Product(s) or Service(s)
- Marketing and Sales Plans
- Operational Plan
- Organizational and Management Plans
- Financial Plan
It will guide the organization at all stages of its growth. Market research, consumer feedback, business conditions, geographic preferences and competitive outlook are a few of the considerations it should utilize.
Careful measurement of the Plan at key intervals is vital, as well. All plans require adjustment as conditions emerge. Constant review keeps the management team involved and focused, and it is also a key tool in achieving high performance. IM can facilitate and monitor these review sessions, as well.
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