Business Case Vs. Business Plan

1132 WordsOct 12, 20155 Pages
Business Case vs. Business Plan Sunilkumar Patel Wilmington University Benjamin Franking has once said “By failing to prepare, you are preparing to fail.” This quote is still stands to true no matter which side of the global you visit. Especially in businesses, not discounting what size is it, it is very important to plan ahead; set goals whether they are short term or long term, share the vision with its employees. All these are mentioned in business plan which states how business will operate, earn revenue, make profit along with where it will be moving towards in future, which should all support its mission statement and share same vision. On the other hand a business case is an opportunity or problem or a statement which starts out as a thought and turned into a document that sets the guidelines of how to make it into a reality. This paper defines what are differences between business case and business plan and how they are used in businesses. There are also few different examples of business cases are provided and described which the best one is and what makes it the best one compare to the others. Having a business plan for any organization serves as a bible for any organizations which their internal standards, organizational goals, vision and mission statement is set forth. A business plan could used be used to raise money from investors for business venture or it can be used for employees to see which direction company is heading. A business
Open Document