Module 15 - Buiness Plans Flashcards
What are primary stakeholders?
Those affected directly
Examples of primary stakeholders:
Owners of business
Employees / management
Customers
Suppliers
Local communities
What are secondary stakeholders
Those affected indirectly
Examples of secondary stakeholders
Government and regulators
Pressure groups
Competitors
General public
What does Mendelows matrix look like?
Mendelows matrix
Those with high interest and high power should be:
Managed closely
Mendelows matrix
Those with high power but low interest should be:
Kept satisfied
Mendelows matrix
Those with lower power but high interest should be:
Kept informed
Mendelows matrix
Those with low power and low interest should be:
Monitored
What is an executive summary?
A short section that summarises the business plan
It is essential that an executive summary is well written, persuasive, concise and that is stated the key conclusions and figures
A potential finance provider may dismiss an entire business based off of reading this
What should be included in the business details section
Business name
Address
Legal form e.g. sole trader…
Ownership structure
Description of product/service
Mission and vision statement
Aims and objectives
What should the industry and market analysis section include?
Analysis of internal (e.g. SWOT) and external factors (e.g. SWOT, PESTEC or Porters Five Forces)
Details on specific market segments targeted (not really sure but was in quiz)
Marketing strategy section should discuss what?
Details about how meeting sales targets
Launch strategy
Marketing mix
Distribution channels
Sales tactics
Brand development
Competitive reaction
Product and market development
Growth potential and scale-up plans
Operations plan should discuss what?
Manufacturing processes
Business model
Business controls
IP issues
Scalability of the business
Management, workforce and CV should include:
Information on day-to-day operations
People charged with governance of the business
Employees of the business
Job roles
(Some other things like CV of management)
Equipment and start-up costs section should include:
Details of business resources (e.g. existing premises, equipment and other assets (IP))
Start-up coasts to get the business set up
Financing section should include:
Sources of finance include?
Details on how the business has been financed (e.g. founders contributions)
Whether business will be funded by loan or equity financing
Sources of finance may include:
Bank loan
Equity investors including venture capitalists and business angels
Government grants
Incubators
Forecasts and sensitivity analysis should include:
One of the most important parts - potential providers of finance will base their decision largely on this section
Profit/loss projections Cash flow surplus/deficit projections Forecast balances (assets, liabilities and capital) Key ratios Assumptions and commentary
Sensitivity analysis (what if?)
Financial projections for small start ups are generally expected for how long?
How long for larger businesses?
A three year period for smaller
A five year period for larger
What is an executive summary?
What is essential for an executive summary?
A short section that summarises the business plan
Well written, persuasive, concise, states key conclusions and figures
Could a potential provide of finance or investor dismiss and entire business plan based solely on reading the executive summary?
Yes
Business details section should include (common exam q I have found)
Business name
Address
Legal form (eg sole trader)
Ownership structure (eg shareholder)
Description of product / service
Mission and vision statement
Aims and objectives
External maker analysis would include
SWOT (OT)
PESTEC
Porter’s Five Forces
Internal analyses would include
SWOT (SW)
