A business plan is a document that give details about the companies objectives and it sets plan to achieve them.

 A business plan is used by both well established companies and startup business for resource allocation, strategic decision-making and performance evaluation.

Business plans are useful for large scale industries to stay on their formulated polices and and not losing sight of their goals.

Startup businesses use business plans to establish themseves in the business world and attract more investers from the market.

A business plan can be formulated using a template depending upon the need of a business organisation.

A business plan can be of many types but generally they are categorised into two - traditional and lean startup.

A well defined business plan is not a gurantee of sucess manytimes it may fail due to tough competion or other reasons.

Companies use business plan to highlight the makte plans, market research, financial projections, business purposes, and mission statement.