What term describes a written description of the goals and operational methods of a business?

A business plan is a comprehensive written document that outlines the goals of a business, the strategies for achieving those goals, and the operational methods necessary to run the business effectively. It serves as a roadmap for the business, helping to clarify its purpose, the market it operates within, and the financial projections it anticipates.

The business plan typically includes details on product or service offerings, target market analysis, marketing strategies, funding requirements, and financial forecasts. This structured approach not only aids in guiding the business itself but is also essential for attracting investors or securing loans, as it demonstrates a well-thought-out strategy and operational model.

In contrast, a mission statement succinctly defines the business's core purpose and values but does not provide the detailed operational methods or goals present in a business plan. A strategic plan usually focuses on broader long-term goals and how to achieve them, while an operational overview offers a snapshot of the day-to-day operations without the comprehensive scope of a business plan.