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A business plan is a formal written document containing the goals of a business, the methods for attaining those goals, ...
The following terms are in everyday use in financial regions, such as commercial business and the management of large organisations such as corporations. Noun phrases [ edit ]
Non-connected diversification – creating a new area. The process is slow, because it is needed to create a whole infrastructure, but the profit would be higher. Connected diversification is based on an economical mechanism for expanding the available potential.
The formula given there is to split one's assets into thirds: one third in business (buying and selling things), one third kept liquid (e.g. gold coins), and one third in land (real estate). This strategy of splitting wealth equally among available options is now known as "naive diversification", "Talmudic diversification" or "1/n ...
A business plan focuses on the business goals and background information about the organization and key team members. It is commonly developed for a 3-5 year time frame and is useful when seeking external funding from either banks or investors. On the other hand, a growth plan is short term, typically 1–2 years or less.
Strategic planning is an organization's process of defining its strategy or direction, and making decisions on allocating its resources to attain strategic goals.. Furthermore, it may also extend to control mechanisms for guiding the implementation of the strategy.
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