A business plan is an important strategic tool required to help establish the direction of an enterprise and attract capital required to run the business. It incorporates and integrates the functional areas of business and puts into practice many of the concepts and theories acquired in other classes. It describes the overall business venture, the product or service, the customers, the competition, the marketing, the legal structure, the operations, the human resources plan, the break-even analysis, the financing and all those things that are required to run a business. It helps to identify many unanticipated factors and reality-tests critical assumptions, thereby creating a roadmap for a successful enterprise. Students are encouraged to identify a business opportunity and develop their own business plan.