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respond to this discussion board A business plan should be used instead of a business model when one seeks to provide step - by -
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A business plan should be used instead of a business model when one seeks to provide stepbystep instructions for how various goals will be accomplished, financial information, action steps, business operations, marketing, sale goals, and organizational structure. Whereas, a business model should be used as a guide for a business leader and company to recognize their main purpose. Business model canvas include key partners, activities, value propositions, customers relationships, customer segements, key resources, channels, cost structure, and revenue streams. This foundational information is important to determining business feasibility and it demonstrates a business' potential by providing key information about the business. A business plan is a guide to achieving the various metrics setforth in the business model and is often used by stakeholders. The business plan describes a company's primary goal and how it intends to reach such goal.
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