Business planning is the planning to commence the business, setting foals and choosing the actions to achieve those goals. It is a technique of looking ahead. It is an analytical thought which covers assessment of future; determination of objects and goals of future; development of alternatives and selection of the best course of action among these alternatives. 

It is the framework of future activities. It must be simple, concise and flexible. Main objective of business planning is to manage the future activities in proper way. It is an intellectual task. Business planning helps to set the objectives and also deviation can be found which helps to evaluate the activities of business.