When the existing business is to assume a major change or when planning a new venture, a 3 to 5 year business plan is required, since investors will look for their investment return in that timeframe. Business plans may be internally or externally focused. They typically have detailed information about the organization or team attempting to reach the goals. With for-profit entities, external stakeholders include investors. An internal business plan is often developed in conjunction with a balanced scorecard or a list of success factors.
When the existing business is to assume a major change or when planning a new venture, a 3 to 5 year business plan is required, since investors will look for their investment return in that timeframe. Business plans may be internally or externally focused. They typically have detailed information about the organization or team attempting to reach the goals. With for-profit entities, external stakeholders include investors. An internal business plan is often developed in conjunction with a balanced scorecard or a list of success factors.
When the existing business is to assume a major change or when planning a new venture, a 3 to 5 year business plan is required, since investors will look for their investment return in that timeframe. Business plans may be internally or externally focused. They typically have detailed information about the organization or team attempting to reach the goals. With for-profit entities, external stakeholders include investors. An internal business plan is often developed in conjunction with a balanced scorecard or a list of success factors.
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