What is a business plan?

A business plan is fundamentally a document that delineates a company's goals and the strategies for achieving them. It serves as a roadmap for the business, detailing not only the objectives but also the tactical steps necessary to reach those goals, including marketing strategies, operational plans, and financial projections. This comprehensive nature allows the business plan to function as a guide for management and as a tool for securing financing, as potential investors look for a clear understanding of both the aspirations of the business and the planned methodology to fulfill those aspirations.

The other options do not encapsulate the essence of a business plan. While outlining an employee's responsibilities is important for operational clarity, it does not cover the broader strategic framework that a business plan provides. A report on market trends is more analytical and focused on external conditions rather than internal strategies and objectives. Lastly, financial projections are just one component of a business plan and are not limited to existing companies; startups also create projections to outline anticipated revenues and expenses as part of their planning efforts. Thus, the choice that best captures the definition of a business plan is the one that emphasizes the alignment of aims and objectives with actionable strategies for achievement.