Subject:

Entrepreneurship & Leadership

Name:
S.M Hamza Farooqui
Class ID:
BSE-20S-038
Topic:
ESSAY ON “That Makes Good Business Plan To
Great”
Introduction:
In today's World, a business plan is a very important
business document for a new business. Without the help of a well-designed
and well-presented business plan an entrepreneur will find it very difficult to
articulate his or her business objectives or earn a secure income. Without a
business plan, it is almost impossible for anyone to take your business idea
seriously or even invest in it.
Because this idea is about establishing a
business plan to launch a new type of social network, we will start by
looking at everything about the business plan concept in every document.
This book study explains the business name and key business plan
functions followed by an overview of the business plan structure. In
addition, a discussion of the problem with the topic business plan in the
books is shown.
In the next section we will focus on the development of a financial plan.
Next, in the Social Media Support section a brief description of LBSN is
provided to give the reader an idea of what the business idea is all about.
An entrepreneur who is determined to start his own business stands before
many obstacles. Building a company doesn’t happen overnight.

Theoretical framework Introduction:

There was a time when entrepreneurs only had to write a letter to propose
their business idea and send it to other investors for support. These days,
investors are very demanding and expect a high level of professionalism
and preparation for the entrepreneurs they choose to sponsor. Kleiner
(2007), a prominent capitalist, says that when evaluating a proposal,
investors want to see more than just a good idea with a bright young man
or woman: they want to see a business plan that shows that the idea is fully
tested and that the entrepreneur has carefully considered the necessary
steps to transform the idea.
The Emergence Of The Business Plan:

The term
business plan is a term that originated during World War II. Back then it
was widely used to describe the long-term strategies of large firms. The
Business Plan has been a very confidential book and has been revealed to
very few viewers. During the 80's the business plan of the term became
very popular and it was during this time that the first articles that appeared
discussed the issues behind the business plan. From that decade onwards,
the term business plan was widely used to signal the start of new and
emerging companies. (Karlsson, 2005) [2]. This may be the reason why
when it comes to business plan the first image that falls into people's minds
is the first business, which should not be the case especially since The
Ernst and Young Business Guide (1987) states that even established firms
can have written business plans to determine or evaluate the achievement
of business objectives.

The Defination Of Business Plan:

The books in the
business plan of the topic are full of details and provide many meanings.
Basically these definitions have the same meanings. Abrams & Barrow
(2005) defines a business plan as a road map to a targeted company.
Ideally, it enables an entrepreneur to move from a basic business idea to a
healthy, successful business.
Barringer (2009) describes it as "A text that accurately describes all the
internal and external aspects of a new business"