Business vs Case Study

Business Case vs Business Plan

Wilmington University

mike smith

Analysis, Modeling and design

The purpose of this paper is to compare and contrast the difference between business case and a business plan. Even through the sound like they would be the same thing, they aren’t. While they have many similar and key terms they both are used for different things. Let’s start of by explaining what is the “common” definition of a business case and a business plan, and then we will compare and contrast the two. A business plan is a formal statement of a set of business goals, the reasons they are believed attainable, and the plan for reaching those goals. It may also contain background information about the organization or team attempting to reach those goals.

The purpose of a business plan is normally developed during the beginning stages of a business. It is the official first document of a company and is normally updated and revised multiple times during a company’s life span. Here are a few reasons why a business plan is needed.

* Helps Identifies and measures significant risks that would lead to different financial situations and financial performance results.

* It could possibly project the future financial situation and financial performance of the company for owners, investors and future invesors.

* Identifies key assumptions and trends

* Starting point for developing budgets

* Helps the ones involved in building and evaluating business care analyses

"Business Plan ExplainedDefinition, Content, Structure, and Purpose." Business Plan Content Structure Purpose Use Explained by Examples. N.p., n.d. Web. 10 Apr. 2014.

A business case is an argument, usually documented, that is intended to convince a decision maker to approve some kind of action. The document itself is sometimes referred to as a business case. Here some examples of what an business cases is used for.

* Identify key risks and unknowns- when an idea is bought...