The kind of plan an entrepreneur needs differs in many ways from all other types of plan. The word ‘plan’ can mean both a schematic description of something, usually a structure, and a proposed course of action. Sometimes, as in the plans for a new building, the word means both. Practically all large businesses, many medium-sized and a few small ones use business plans. Mostly these are plans based on an extrapolation of recent history: the plan period is assumed to be like the previous period with a relatively small amount of change. Business plans can be extremely elaborate and involve large sums of money; bringing an updated model of a popular car into production can take three or more years and involve spending a billion or more pounds. The marketing assumption behind such a plan will, however, be that the new model will sell at roughly the same rate as the current one is selling. The plan may include some allowance for growth but it will be in line with a long-term trend.
KeywordsEurope Marketing Peri Lution Wharf
Unable to display preview. Download preview PDF.