During the dot-com bubble 1997-2001 this was a problem for many technology start-ups.Reference class forecasting has been developed to reduce the risks of cost overruns and revenue shortfalls and thus generate more accurate business plans.Tags: Isagenix Business PlanDiscovery Education Student AssignmentComplexity Thesis Science ReligionQuestionnaire Thesis SmokingWho Says Essays On Pivotal Issues In Contemporary StorytellingDissertation Depression
Externally-focused plans draft goals that are important to outside stakeholders, particularly financial stakeholders.
These plans typically have detailed information about the organization or the team making effort to reach its goals.
If a new product is being proposed and time permits, a demonstration of the product may be included.
A written presentation for external stakeholders is a detailed, well written, and pleasingly formatted plan targeted at external stakeholders.
Non-disclosure agreements (NDAs) with third parties, non-compete agreements, conflicts of interest, privacy concerns, and the protection of one's trade secrets may severely limit the audience to which one might show the business plan.
Alternatively, they may require each party receiving the business plan to sign a contract accepting special clauses and conditions.An externally targeted business plan should list all legal concerns and financial liabilities that might negatively affect investors.Depending on the amount of funds being raised and the audience to whom the plan is presented, failure to do this may have severe legal consequences.A business plan for a project requiring equity financing will need to explain why current resources, upcoming growth opportunities, and sustainable competitive advantage will lead to a high exit valuation.Preparing a business plan draws on a wide range of knowledge from many different business disciplines: finance, human resource management, intellectual property management, supply chain management, operations management, and marketing, among others. a good business plan can help to make a good business credible, understandable, and attractive to someone who is unfamiliar with the business.Writing a good business plan can’t guarantee success, but it can go a long way toward reducing the odds of failure." The format of a business plan depends on its presentation context.It is common for businesses, especially start-ups, to have three or four formats for the same business plan.They may cover the development of a new product, a new service, a new IT system, a restructuring of finance, the refurbishing of a factory or a restructuring of the organization.An internally-focused business plan is often developed in conjunction with a balanced scorecard or a list of critical success factors.This allows success of the plan to be measured using non-financial measures.Business plans that identify and target internal goals, but provide only general guidance on how they will be met are called strategic plans.