A theory is essentially a set of concepts, propositions and ideals that have a direct relationship (Mullins, 2005). Therefore, the main approach used in the development of a theory is correlation which often assumes a causality relationship.
Business plans are the foundations from which successful businesses are constructed. It can be a statement of goals of the business, the reasons as to why these goals can be attained, and the plans that can be used to attain the set goals. A plan may contain information such as; the problems that the company is facing, the solutions that the company may offer to those problems the gap or the niche that the company is planning to fill and the market that the company is planning to cover.