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A business plan is the blueprint of thestep-by-step procedure that would be

followed to convert a business idea intoa successful venture.

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Review available business plan(if any)

Draw key business assumptions(inflation,

market growth, competitive pressure etc.) Scan the external & internal environment.

Seek professional advice.

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Various sources: customers, existing

companies, R&D, employees, dealers etc.

Various methods: brain storming, datacollection, group discussion, mails, ads, marketresearch etc. 

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External scanning: socio-cultural,

technological, economic, demographic,government.

Internal environment: raw material, production,market, finance, human resources. 

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Market  analysis: demand & marketshare, customers, price etc.

Technical/operational analysis: rawmaterials, technologies, equipments,machineries, location etc.

Financial feasibility: cost of land,building, labour, plant & machinery,working capital, cost of production, cashflow, break-even etc. 

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Draw functional plans: 1. Marketing plan: marketing mix, market research,

segmentation, positioning, targeting etc.

2. production plan: location, land & labour, rawmaterial, quality mgmt, suppliers, distributors,scheduling etc.

3. Organisational plan: single proprietary, partnershipfirm, company, pvt ltd. , public ltd etc.

4. Financial plan: cash flow, income statement,ratios, balance sheet etc. 

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Cover sheet

Table of contents

Executive summary The business

Funding requirements

The product or service

The plan: marketing, financial,organisational, operational

Critical risks Exit strategy

Appendix

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It can be defined as the successfulexploitation of new ideas-incorporating

new technologies, design & bestpractices is the key business process thatenables the businesses to compete

effectively

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It is defined as the process of developingan original product, service or idea that

makes a socially recognizedcontribution.

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Present & potential consumers

Existing companies

RM providers Distributors & retailers

R&D

Existing employees

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Innovation is planned & predictable

Technical specifications should be

thoroughly prepared. Creativity relies on dreams & ideas

Technology is the only driving force of

innovation & success.

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IDEAGENERATION

STAGE4

INCUBATIONSTAGE3

PREPARATIONSTAGE2

TASKPRESENTATION

STAGE1

PROCESSCOMPLETE

IDEAVALIDATION

STAGE5

OUTCOME

ASSESSMENTSTAGE6

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Imaginative thinking

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Logical thinking