“The essence of strategy is choosing what not to do.”
In a fast paced and constantly changing work environment that we all experience it’s important to uncover and pinpoint the strengths and weaknesses of an existing business, identify possible opportunities and threats, evaluate resources required to carry through, and ultimately determine the prospects potential for success. As unbiased and objective approach to provide information upon which decisions can be based is also a good foundation to prepare the next step in the process.
FORMAL BUSINESS PLAN
In order to gain credibility with potential investors, donors and lending institutions it’s necessary to prepare a more formal presentation of the planned project or venture. The business plan aims to do exactly that. This formal statement presenting set of goals, the reasons why the organisation believes they are attainable and a plan how to reach those goals can help to make a good business credible, understandable, and attractive to someone who is unfamiliar with the business or organisation.