A business plan is a comprehensive document that outlines the strategies, objectives, and tactics a company will use to achieve its goals. It is typically used to secure funding, attract investors, or guide the growth of a business. A well-written business plan will provide a roadmap for success, outlining the company’s purpose, target market, competitive analysis, financial projections, and other essential components.
There are several types of innovation, which can be broadly categorized into the following four categories: These four types of innovation are not mutually exclusive, and many innovations can fall into more than one category. Successful innovators often combine multiple types of innovation to create products, services, and business models that are truly game-changing.