The term 'Business' refers to an independent organization or

an enterprise which actively participates in commercial, industrial

or professional activities. It can be categorized as both profit

and non-profit entities. The inception of business begins with a

business concept and a name. A business organization comes

into function after the development of the Business Plan.

Business Plan is a legalized and formal document consisting of

a detailed description of the strategies, goals, and objectives of

the organization and the plan of achieving the desired goals

and objectives.

There are some things that are needed to be kept in mind

while making business plans such as length of the plan,

presentation of the business plan, contents of the business plan

and the choice of the business plan.

There are a lot of stages that a business organization has to

go through in its life cycle before reaching their desired goals.

Business faces different challenges every day and each of these

challenges makes use of different approaches for finding an

appropriate solution to it. One should also be able to

apprehend the future challenges and upcoming financing

sources in order to be successful at each and every stage of

the business life cycle.

There are only a handful of business organizations who actually

grow to hold a stable position in the market. Therefore, all the

decisions pertaining to business proceedings should be taken

intelligently. Several business strategies have also been designed

for the small-scale business companies which aid them in

reaching the desired goal.