Business Plan Flashcards
(42 cards)
It is a detailed and integrated written document that describes the various activities involved in opening and operating a new entrepreneurial venture
Business Plan
It is prepared using a scientific approach.
Business Plan
It is the road map of the new
business for it provide a clear direction and light to an uncertain business endeavor
Business Plan
A detailed analysis that considers all of the critical aspects of a proposed project in order to determine the likelihood of it succeeding.
Feasibility Study
Forerunner of business plan.
Feasibility Study
the formulation and drafting of the proposed business name is not as simple as it sounds. It is a delicate and important entrepreneurial task. Remember that the name of a business may exist in the market for many year. Careful and in depth planning is of prime importance.
Proposed Name Of The Business
this important that the address of the business is correctly written because all business correspondence are mailed to the business address. Raw materials and other manufacturers are shipped by the by the seller to the designated business address. Nowadays it is also necessary for the business to have an email address to facilitate electronic communication between the business and the customers, suppliers, creditors, and other significant parties.
Address of the business
Classification of business ventures according to FORM:
Sole Proprietorship
Partnership
Corporate
type of business owned and manage by a single person.
Sole Proprietorship
a formal arrangement by two or more parties to manage and operate a business and share its profits.
Partnership
- formed by at least five but not more than fifteen persons. It has a distinct personality separate from the owners.
Corporation
Refers to the person originally formed the corporation
Incorporators
organized under the laws of the Philippines
Domestic Corporation
when they are authorized to issue share of stock Holders
Stock Holders
when they are not authorized to issue share of stocks to stockholders.
Non-Stock Holders
organized under the laws of the foreign country but has the authority to operate in the Philippines
Foreign Corporation
A brief description of the business must include information about the type of the product or service that the business intends to produce or provide. It may include a brief information about the ultimate mission, vision and objectives of the business. The other products or services that the business plans to produce or provide must also be mentioned in the description of the business.
Description of the business
engage in buying and selling of products or goods
Merchandising
provide service to the customer either in professional or non-professional.
Service
engage in buying raw materials and supplies to be processed into finished products.
Manufacturing
the basic entrepreneurial consideration is the place that proposed business in a strategic location that will assure competitive advantage. The following factors should be considered when deciding on the location of the proposed business
Location of the business
The estimated total initial cost of the business venture must be clearly indicate. It should include the projective breakdown or allocation of the total cost, e.g., how much will be for building fixtures, equipment,
supplies, and working capital. This section also presents the source or sources of funds. The initial cost of investment may be provided solely by the owner/s or partly by the owners and creditors. The estimated period to settle the funding source provided by the creditors must be also be mentioned.
Funding Requirement and source
- describe what the company wants to achieve and where it wants to go in the future. It determines the course of direction of the company and identifies which markets, technologies, products, or customers tofocuson.
Vision Statement
