Business plan as a basis for the successful investment management

Abstract

The developed business plan serves as a basis for the effective investment management and the key to successful implementation of the business idea. This thesis is confirmed by the formed substantiated advantages of the need to develop a business plan by an entrepreneur. To validate these statements several goals were set to achieve in the paper namely: forming the argumentative advantages of the necessity to create a business plan for the entrepreneur; comparing the content of a business plan and its structure in different authorial approaches; systematizing the business planning software; developing recommendations for overcoming barriers for business planning. The main method to obtain the final aim of the study is the comparative analysis. Grouping, tabular presentation of data and abstract-logical method were among other approaches used in the research. The essence and structure of the business plan as the basis for the successful investment process are thoroughly analyzed in the article. Management situations in which the necessity to develop a business plan are systematically identified; foreign and Ukrainian methodological approaches to the structure of the business plan, their common features and differences are also analyzed. Particular attention is paid to defining the essence of the startup's business plan. The software technically simplifying calculations and allowing to create different business models for implementing business ideas in the process of developing business plans is recommended for use. The conclusions of the study reveal the main basic difference between the startup's business plan and the typical structure of the business plan. Several difficulties for entrepreneurs who find it complex to develop plans themselves are also identified. The practice of business planning in Ukraine has shown a few shortcomings that persuade entrepreneurs to abandon the business plan creation. The directions of these shortcomings’ elimination are also recognized as the conclusions of the paper.