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Related Experiment Videos

Writing a successful business plan

A B Haag1

  • 1Annette B. Haag & Associates, Simi Valley, CA, USA.

AAOHN Journal : Official Journal of the American Association of Occupational Health Nurses
|January 1, 1997
PubMed
Summary

A well-crafted business plan is crucial for entrepreneurial success, guiding operations, securing funding, and mitigating risks. Without effective planning, many new businesses falter due to unmanaged responsibilities and overlooked market factors.

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Area of Science:

  • Business Management
  • Entrepreneurship
  • Strategic Planning

Background:

  • Entrepreneurs bear full responsibility for business development, management, and associated risks.
  • A significant number of businesses fail due to the absence of a robust business plan.

Purpose of the Study:

  • To highlight the critical role of business planning in new venture success.
  • To emphasize the business plan's function in communication and financial proposals.

Main Methods:

  • Analysis of key business plan components.
  • Examination of planning's impact on decision-making and progress measurement.

Main Results:

  • Business plans identify target customers, market areas, pricing, and competition.
  • Effective planning aids in securing financial resources and defining future company direction.

Conclusions:

  • A comprehensive business plan is essential for navigating business challenges.
  • Strategic planning is fundamental for operational guidance, progress tracking, and overall business viability.

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