Final Flashcards
Def of planning
Planning is the process of thinking about and organizing the activities required to achieve a desired goal. Planning is the property of intelligent behavior
What are the 5 step decision process?
- identify the problem
- List all the possible alternatives
- Choose best alternative
- Launch your plan
- Evaluate your process, continue or start over
What is strategic planning?
Vision, direction, what should be done. LONG TERM
What is Operational Planning?
How to do things right, how to get things done. SHORT TERM
What is project planning?
Use of budgets, schedules, and polices to plan
What is a Business Plan?
A formal statement of business goals, reasons they are attainable, and plans for reaching them,
Business plan- 9 steps?
- Executive summary
- Brief Description
- Situation Analysis
- Market segmentation ( Target Market: Demographics, Psychographics, geographics, product benefits)
- Marketing Strategy ( 4 p’s)
- Financial Projections
- Conclusion
- Appendix
- Exhibits
sole proprietorship?
Full Liability
Partnership
Limited Liability
Corporation?
No liability
Franchise?
Business Model
LLC?
Limited Liability Company
S Corporation?
Privately Held
Shares of stock meaning?
Parts of ownership in a corporation
