Business plans are typically characterized as which type of document?

Business plans are fundamentally text-based documents because they serve as formal written accounts that outline the strategic vision, operational specifics, financial projections, and organizational structure of a business. The primary function of a business plan is to communicate detailed and structured information to various stakeholders, such as investors, management teams, and regulatory bodies. This information is predominantly conveyed through written content, including narratives, descriptions, and analyses, making text the primary medium of communication.

While auxiliary elements such as charts, graphs, and images may help support the text and enhance understanding, the core of the business plan relies on comprehensive textual explanation to convey the complexities of the business model and strategic intent. This written format enables clear, precise communication that is essential for decision-making and planning in a business context. Therefore, identifying business plans as text-based documents accurately reflects their nature and purpose in the business landscape.