Abstract

Strategic planning is focused on viewing the internal and external environments, discovering opportunities for future business goals, and then setting a plan to accomplish the goals. A business plan is a detailed plan for expansion of services or for a new business venture to include both a conceptual and a financial plan. There are some commonalities among these processes. They all review the history and current status of your company and then look into the future state of your company based on your mission, vision, and goals. The future could include new ideas for expansion, business relationships, and new projects for businesses. Each of these processes will be reviewed with examples, including a business plan for a new venture.

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