The business plan process is a written document prepared by the business planning team that describes all the relevant external and internal elements of starting a new venture. It is an integration of operational plans such as marketing, finance, and human resource planning. As the below image suggests, the business planning process begins by identifying the goals and describing all the business protocols to the stakeholders, after having strategic objectives and identifying short-term goals that outline expectations for the performance of day-to-day operations. The following image also suggests that a business plan is a comprehensive statement of how the company will achieve all the set goals while identifying the problems.
