Chapter 7 Flashcards
Functions of buisness plann
Organize all info
Help set realistic goals/dissisons
Pathway to buisness success
Objectives of a buisness plan
Identify nature of buisness opertunity
Explain how entrepreneurs will develop opertunity
Identify factors determining if venture will be a success
Serves as a tool rising finances
Full decription of a buisness plann
Name/logo
Personell info
Type of ownership
Mission
Market research
Prosess of finding out if there is a market for a specific product
Consider when finding location
Isit close to market
Input materials available
Skilled worker in vicinity
Services eg. electricity available
Organizational plan show
Number of employees
Their responsibility
Factors to remember when compaling a buisness plann
Look good
Easy/simple to read/understand
Have nessesary info
Be based on proven facts
How to draw up a buisness plan:
Provide
Full description of buisness
Brief description of product
Your goals/objectives
Marketing plan
Tell what to sell/how to market
Marketing plan shoul include
Description of target market
Percentage of target market you will get
Marketing plan describe
Product/service
Price
Pace
Premotion
Production plan give info on
Operation facilities
Production methods
Suppliers
The following info should be in a financial plan
Start up cost
Calculation of break even point
Expenses
Cash flow statement
Lenders use buisness plan to give idea of
Buisness
Type of product/service
Nature of market
Qualification of entrepeneur
Buisness plan
Written document
Covering objectives
Describing how buisness will run
