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Revision Notes for Class 11 Other Subjects Business Plan
Class 11 Other Subjects students should refer to the following concepts and notes for Business Plan in Class 11. These exam notes for Class 11 Other Subjects will be very useful for upcoming class tests and examinations and help you to score good marks
Business Plan Notes Class 11 Other Subjects
BUSINESS PLAN
Introduction to Business Planning
Learning Objectives
By the end of this chapter, you should be able to:
• Define business planning.
• List the objectives and uses of a business plan.
• Explain how the objectives of a business plan intended for external audiences differ from those intended for internal audiences.
• List and describe the key components of a business plan.
• List and describe the key steps in the business planning process.
• Define the key requirements of an effective business plan.
As we approach the twenty-first century, the need for business planning has never been more apparent. Businesses today are confronted with increasing competitive pressures, ever more demanding customers, and accelerating and discontinuous change.
Given the new economic realities, planning cannot be an abstract exercise or a ritualistic activity. Planning must form the foundation for ensuring that the business takes those actions required to establish and sustain a competitive advantage.
Planning within organizations usually takes three forms and is done at three levels, as shown in Exhibit 1-1. Not all businesses engage in each form of planning. All businesses, however, do some planning, even if it only involves two business owners or managers thinking about and discussing what to do next. A safe generalization is that the larger and more complex the environment of the business, the more likely it is that the business will be engaged formally in all three types of planning.
Exhibit 1-1 - Planning Types and Levels
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CBSE Class 11 Other Subjects Business Plan Notes
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Notes for Other Subjects CBSE Class 11 Business Plan
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Business Plan Notes for Other Subjects CBSE Class 11
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Business Plan CBSE Class 11 Other Subjects Notes
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Notes for CBSE Other Subjects Class 11 Business Plan
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