Business Plan Flashcards
1
Q
Business plan?
A
Comprehensive paper that details the situation analysis, objectives, strategies and tactics and how to monitor and control enterprise.
2
Q
Examples objectives?
A
- Increase profit by blank in blank years
- come up with revised product in blank months
- branch out in a place in year blank
3
Q
Market analysis, relevant industry dynamics
A
- who are the competitors and what are their advantages and disadvantages?
- who are the suppliers and what are their capabilities and bargaining power?
- what are the channels of distribution being used by the industry? How effective are they?
4
Q
what is SPEET?
A
Social Political Economic Ecological Technological
5
Q
Social?
A
Structure, social status, and dynamics of the population at large: beliefs, taste, customs etc
6
Q
Political
A
Governance system; allowable and disallowable business practices
7
Q
Economic?
A
Driven by supply and demand forces
8
Q
Ecological?
A
Natural resources and the ecosystem
9
Q
Technological?
A
- Makes or breaks competing participants
- New scientific and technological discoveries
10
Q
Marketing plan?
A
- identify customer’s needs
- value proposition: states why a customer should buy a certain product or service
