Here is the synopsis of our sample research paper on BUSINESS PLANNING VERSUS STRATEGIC PLANNING. Have the paper e-mailed to you 24/7/365.
Essay / Research Paper Abstract
This 6-page paper discusses the differences between business plans and strategic plans. The paper goes on to define the requirements needed in developing both business and strategic plans as well. Bibliography lists 4 sources.
Page Count:
6 pages (~225 words per page)
File: D0_MTbsstpl.rtf
Buy This Term Paper »
Unformatted sample text from the term paper:
shingle, and hopes that customers will come. But in between the development of the ideas and the hanging out of the shingle is the process of planning. In this regard,
there are two plans to consider, the business plan and the strategic plan. On the surface, these two plans arent horribly dissimilar
- both are basically guides to the business to give the business owner an idea of goals and objectives. It is the destination of these plans that marks the differences
between them. In this paper, well explore the difference between business plans and strategic plans. While both plans do have their similarities,
they are actually two different things. Business Plan In their most basic form, business plans are considered documents that are used to
basically communicate what the businessperson has in mind about the business (Reitzloff, 1998). As such, business plans include financial budgets, short- and long-term goals, functional strategies, a marketing and financial
plan and an operating plan (Reitzloff, 1998). Functional strategies basically indicate how the business will achieve the short- and long-term goals it has set for itself. A marketing plan demonstrates
how the company will attempt to attract and keep customers. The financial plan demonstrates how the company will earn money and how it will pay for expenses. The financial plan
also includes budget and cash flow projections to determine how much income is expected (Reitzloff, 1998). And an operational plan demonstrates how orders will be taken and fulfilled.
The well-crafted business plan is also an important road map that reminds the business owner (and his or her staff) of what is required
...