• As a Tool for Analysis
•The contents of the plan contains specific information in aiding the guidance and refining of the vision, generation of the mission statement and developing the strategic content and process for the venture.
•The structure of the plan provides the entrepreneur with an effective checklist of the information they must gather in order to be sure the direction for the venture is both achievable and rewarding.
•Creation of the plan guides and disciplines the entrepreneur in gathering this information
• As a Tool for Synthesis
•The information contained in the plan is used to refine the entrepreneurs vision and used to support a suitable mission and strategy.
•The contents of the plan acts to synthesise the entrepreneurs vision with a definite plan of action in a unified way.
•This synthesis converts the vision into a strategy for the venture and then into the actions appropriate to pursuing the ventures goals.
• As a Tool for Communication
•The plan provides a vehicle for communication of the venture defining the opportunities it faces and a means to exploit it in a concise, efficient and effective way.
•The plan draws internal people together and gives them focus and direction to their activities.
•It becomes an efficient tool of communication to attract investors by gaining their interest and attracting them to the venture
• As a Call for Action
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