Business Plan

A plan that outlines the roadmap for a business to achieve specific goals that are believed to be attainable. The business plan may be tactical or strategic. The tactical plan may include promotional and a special event plan to achieve a certain sales target. The strategic plan, on the other hand, may include new product launches, opening and closing of stores, entering new markets and channels of distribution, SKU reduction, store format changes, warehouse expansion, and capacity planning to achieve certain long-term goals.