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.
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.
The business goals may be defined both for non-profit or for-profit organizations. For-profit business plans typically focus on financial goals, such as profit or creation of wealth. Non-profit, as well as government agency business plans tend to focus on the "organizational mission" which is the basis for their governmental status or their non-profit, tax-exempt status, respectively—although non-profits may also focus on optimizing revenue.
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