The Importance of a Well-Written Business Plan
Order ID |
53563633773 |
Type |
Essay |
Writer Level |
Masters |
Style |
APA |
Sources/References |
4 |
Perfect Number of Pages to Order |
5-10 Pages |
Description/Paper Instructions
The Importance of a Well-Written Business Plan
A business plan is a crucial document for any organization, whether it is a start-up, a small business, or a large corporation. It lays out the goals and objectives of the company, as well as the strategies and tactics that will be used to achieve those goals. A well-written business plan not only provides a roadmap for the company’s success, but it also serves as a tool for communicating that vision to potential investors, partners, and employees.
One of the most important functions of a business plan is to serve as a roadmap for the company’s growth and development. A well-written plan will clearly outline the company’s goals and objectives, as well as the strategies and tactics that will be used to achieve them. This will help to ensure that everyone within the organization is working towards the same end goal, and that the company is able to make informed decisions about how to allocate its resources.
A business plan also plays an important role in securing funding. When seeking investment, a business plan is often required by investors, lenders, and other potential partners as a way to evaluate the potential of the company and its management team. A well-written plan will provide detailed information on the company’s financials, including projected revenue, costs, and profit margins, as well as the market opportunity and the company’s competitive advantage.
Another key benefit of a well-written business plan is that it helps to communicate the company’s vision and mission to employees, partners, and other stakeholders. A well-written plan provides a clear understanding of the company’s goals and objectives, which can help to align the actions of all employees and partners with the company’s overall strategy. This can lead to better communication, cooperation, and teamwork across the organization, ultimately resulting in a more efficient and effective business.
In addition, a well-written business plan can be used as a management tool. It can help the company to stay on track, and can serve as a reference point when evaluating progress and making important decisions. It can also be used to identify potential obstacles or challenges, and to develop strategies for overcoming them.
Furthermore, a well-written business plan also demonstrate that the business has done its homework, have a clear vision and strategy. This can give investors, partners, and other stakeholders confidence that the company is well-positioned for success, and that their investment is in good hands.
In summary, a well-written business plan is essential for the success of any organization. It serves as a roadmap for the company’s growth and development, and it is crucial for securing funding and communicating the company’s vision and mission to employees, partners, and other stakeholders. Furthermore, it can be used as a management tool, helping the company to stay on track, evaluating progress and making important decisions. It’s essential to take time and effort to create a comprehensive, compelling and professional business plan.
RUBRIC
QUALITY OF RESPONSE |
NO RESPONSE |
POOR / UNSATISFACTORY |
SATISFACTORY |
GOOD |
EXCELLENT |
Content (worth a maximum of 50% of the total points) |
Zero points: Student failed to submit the final paper. |
20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. |
30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. |
40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. |
50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. |
Use of Sources (worth a maximum of 20% of the total points). |
Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. |
5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. |
10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. |
15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. |
20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. |
Grammar (worth maximum of 20% of total points) |
Zero points: Student failed to submit the final paper. |
5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors |
10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors |
15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. |
20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. |
Structure of the Paper (worth 10% of total points) |
Zero points: Student failed to submit the final paper. |
3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. |
5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper |
7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. |
10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper. |
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The Importance of a Well-Written Business Plan
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