If you don't have a mission statement, create one by writing down in one sentence what the purpose of your business is. Ask two or three of the key people in your company to do the same thing.

So the executive summary, or statement of purpose, should succinctly encapsulate your reason for writing the business plan. It needs to tell the reader what you want and why, right up front.

The focus of a statement of purpose is typically what you have accomplished academically in the past and what you plan to accomplish academically and professionally in the future. This document ...

This week’s news that the U.K. arm of The Body Shop has collapsed into administration is a stark reminder of how — for all the talk of the importance of purpose in business — that alone is ...