Business Development Plan
The business development plan is basically designed to establish a new company as an entrepreneur. In this regard, it is required that a detailed business proposal plan is made to analyze the possibility in upcoming future. Hence, company plan can be defined as a proper outline of vision undertaken by businessman followed by narration of operations and strategies that are to be taken to complete the venture. Thus, creation of a detailed business plan helps to offset the cost factors.
It thus enables the owners and managers of company to give a thought about industry broadly. It also helps to discuss the business objectives to employees and lays path for future decision making (Bangs, 2014).