Making a business plan for the growth and development of the business is not an exercise solely for profit maximization. It is a mission statement and must incorporate the moral principles that are indispensable for sustaining a healthy public image of the firm. The business development plan validates the purpose of the firm’s existence and also provides a moral frame of reference.
Making a plan calls for awareness of social justice in the management practice and all business activities. After a succinct expression of the goals and procedures, the business plan should go ahead and adopt the policies and measures that are socially relevant. An important criterion for the success of a venture is its public image. This is often derived from the moral stand point of the enterprise and adoption of the ethical work practices. While making a business plan always take note of the desired public image and identify the key influences on strategic business decisions. » Read more: Making a Business Plan