Management by objectives (MBO) is a process of agreeing upon objectives (as can be detailed within business plans) within an organization so that management and employees agree to the objectives and understand what they are in the organization.
Finally, a business plan should be error - free. This is important because your business plan defines who you are as a business person. If it turned out sloppy, then that does not speak too highly of you.
Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. Business plans can help decision makers see how specific projects relate to the organization's strategic plan.
Identify your audience. A good business plan should be written from the prospective of the audience. First, you need to decide on the purpose the plan. Are you trying to persuade an investor to take on your project or communicate the future plans for the company? The purpose of the business plan will affect the style and content so make sure you are clear on this before beginning. A good business plan needs to be tailored to the specific requirements of the target audience in order to be engaging.