ABSTRACT
Business planning is critical in the hospitality industry if businesses are to survive and prosper. As part of this process, a business plan ensures that the hospitality enterprise is able to gain access to the necessary resources for its start-up or development. The business plan enables the hospitality enterprise to clearly communicate its goals and overall philosophy to external and internal stakeholders. This chapter outlines the components of the business plan and explains its structure. The chapter will also analyse the research process that is undertaken as part of the business-planning process.
