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business plan
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formal written document containing business goals, the methods on how these goals can be attained, and the time frame within which these goals need to be achieved
A business plan is a formal written document that outlines what a company wants to accomplish, how it will do so, and when it expects to achieve those goals. It matters because it provides a clear roadmap for running the business and helps secure support from investors or lenders who want to understand the company's direction and viability.
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A business plan is a formal written document containing the goals of a business, the methods for attaining those goals, and the time-frame for the achievement of the goals. It also describes the nature of the business, background information on the organization, the organization's financial projections, and the strategies it intends to implement to achieve the stated targets. In its entirety, this document serves as a road-map (a plan) that provides direction to the business.