In order to make the business plan more comprehensible, every element has been described in short here.
The executive summary is an index cum introduction to the entire business plan. The summary must basically contain two different elements―the name of the company/business organization, and its premises and incorporation details. Apart from these, major key players of the business must also be mentioned. Some companies also quickly summarize their operations, objectives, and specialties. An accompanying company motto also adds to the charm. This is basically an index of the document, and enables the reader to skip whatever he already knows.
The business description is an in-depth explanation to the company’s operations and different objectives that are to be achieved in the course of the business. If the company is a major market player in some specific product, then the business history and timeline of development is also included. So basically, what is written on this page includes what the company does, in what time it does it, and in what manner it does it.
The third aspect is the market within which the company operates. The company’s major customers, their demands, requirements, and competitors are discussed. Apart from that, the major behavior of the market from the point of view of global supply and annual demand are elaborated upon. Often, the marketing policy that is going to be followed is also mentioned.
Products and Services
The products and services of the company, their quality, and their reputation are to be mentioned. The pricing policy of such products is also to be mentioned. The logic behind such a pricing can also be included in the financial aspects of the plan.
Organization and Management
The next aspect is the management of the company, key people, code of conduct, departments, and wings. This aspect is to be covered very carefully if the plan is being used to brief job applicants.