It is a record that can help the owner to have an idea about the goals
and objectives the company wants to achieve. Strategic planning helps
the company to prepared for the future. It is a realistic plan for the
business to succeed. It is a foundation of the company to grow, evaluate
its success, and compensate to operate efficiently. It helps the company
to increase its sales through having insight into the market trend,
different consumer groups and improve its products. The business will
be able to make efficient operating plans, track performance, and report
to stakeholders through the help of strategic planning. Lastly, it boosts
the employee's productivity if their company has plans that help them to
stay on track.
The company’s summary includes the business name/main title,
location, legal structures, management team, company history, contact
and the company’s overview. The business name will be the branding of
the business, something that can captivate the customers upon hearing it.
The location of the business must be good so that it can reach many
customers. The legal structure is a part of the company summary that
distinguishes if the business is sole proprietorship, partnership,
corporation, or cooperative. The mission statement is the overall purpose
of the business and how does the company will serve its customers. The
company
overview
include
the
products/service
offer.
The
products/services description to details to the potential reader of the
business plan like potential investors. The summary also includes who
will be the target market of the business. The target market can base on
gender, age, or geography. The management team introduces who will
manage the company. The competitive advantage of the company is
things that are unique about the company that competitors didn’t have.
Lastly, the objectives or goals of the company to take over the market.
These are a list of reasons why your business is existing and the roles of
the business in its society.