BUSINESS PLANNING IN THE MODERN BUSINESS ENVIRONMENT: THEORETICAL AND APPLIED ASPECTS

Abstract

This article is devoted to the study of business planning as a tool that determines the modern development of entrepreneurship in the conditions of rapidly changing market needs and other factors of the external environment. The author's version of the essential characteristics of a business plan and its classification is presented, a number of practical recommendations for the development of business plans, compiled on the basis of the analysis of various approaches, as well as the experience of Ukrainian and foreign business practitioners, are offered. This article delves into the examination of business planning as a pivotal tool shaping contemporary entrepreneurship amidst rapidly evolving market demands and external environmental factors. The author presents their interpretation of the fundamental characteristics of a business plan along with its classification, offering a range of practical recommendations for business plan development. These recommendations stem from the analysis of diverse approaches and insights from both Ukrainian and international business practitioners. Business planning is portrayed as integral to fostering conditions conducive to the balanced economic growth of business entities. The cultivation of a robust work culture within these entities is deemed essential for facilitating effective organizational planning in practical endeavors. The article explores distinctive internal methodological approaches to crafting the structural components of business plans within enterprises and their managerial function. By conducting a comparative analysis of business plan creation in alignment with international standards and Ukrainian legislation, the article advocates for standardizing the methodology of business plan development in Ukraine. It underscores the imperative for newly established enterprises to draft a business plan as a mandatory step. The author suggests that planning entails forecasting future events with reasonable accuracy or developing hypothetical scenarios from which a suitable course of action is chosen. Furthermore, the article examines how business planning serves not only as an informational tool for business inception but also as a resource for ongoing training. Disparities between domestic and foreign scientific schools regarding the conceptualization of business planning are evaluated. The article highlights the significance of gathering pertinent and timely information from various sectors such as private enterprises, banking, and governmental entities to inform the business planning process. It emphasizes that without a stylistic approach and comprehensive understanding of the essence of business planning, the development of viable and productive development scenarios is unattainable.