What is the difference between business planning and business plan?

Business planning refers to the process of creating a strategic roadmap for a business, which involves setting goals, identifying resources, and determining the actions required to achieve those goals. It is an ongoing process that involves analyzing the market, assessing competition, and making decisions to ensure the success and growth of the business.

On the other hand, a business plan is a written document that outlines the details of a business, including its objectives, strategies, financial projections, and operational plans. It is a comprehensive document that serves as a blueprint for the business and is typically used to attract investors, secure loans, or guide the management team in executing the business strategy.

In summary, business planning is the overall process of strategizing and making decisions for the business, while a business plan is the written document that captures and communicates the strategic direction and operational details of the business.