The concept of business planning is new to business professionals in the states of the former Soviet Union. Although Russian publications on business and economics have responded to the increased demand for knowledge of business planning, Western ideas of business planning should be integrated into Russian business management concepts in order to prepare a new generation of business professionals. Business plans should address the following issues: company product or service; customer base; customer need for product or service; and the production process. One of the most commonly used formats for business plans is the UNIDO (United Nations Industrial Development Organization) plan, which usually has the following components: resume (outline of the business plan), product plan, organizational plan, marketing plan, risk management plan, financial plan, and appendixes. Business plans are key tools for planning and controlling both new and established businesses and their use can facilitate business development within the newly-independent states of the former Soviet Union. (KC)