Module 4: Business Plan

Question 1

formal written document used for the long- range planning of a company’s operation. It details the goals of a business and how those goals will be achieved. It is a roadmap for your business.

Answer 1

Business plan

Question 2

• Secure Funding
• Guide the business and the decision-makers
• As a tool to communicate ideas to stakeholders
• Attract key employees
• Other purposes that the entrepreneur will see fit

Answer 2

Purpose of a Business Plan

Question 3

Who needs a business plan?

Answer 3

Any business owner or entrepreneur
Startups or new businesses
Businesses seeking loans
Businesses looking to expand

Question 4

Types of business plan

Answer 4

Traditional
Lean startup business plans

Question 5

[business plan] more detailed and require more work

Answer 5

traditional

Question 6

[business plan] provide a less detailed snapshot

Answer 6

Lean startup business plans

Question 7

Parts of a business plan

Answer 7

1. project/executive summary
2. business profile/the company
3. management and personnel
4. marketing plan
5. production/operations plan
6. financial plan

Question 8

[parts of business plan]
* the last section of the business plan to be written
* gives highlight of each section of the business plan
* usually is one to two pages in length
After reading the this part, readers should have a basic understanding of your business, should be excited about its potential, and should be interested enough to read further.

Answer 8

Project/Executive Summary

Question 9

[part of business plan]
* serves as a directory to the business
* This overviews the business’s plan and vision. It should include the company’s name, contact information, and business structure.
* This section also gives the reader an idea of the goal/s of the company.
* Specific objectives that will contribute to the achievement of the goal/s are
also outlined.
* A SWOT analysis is also done to examine the internal and external environment of the organization
* The legal identity of the business is identified

Answer 9

Business Profile/The Company

Question 10

[parts of business plan] * details the company’s organizational structure - the personnel involved in the organization and their roles in the organization
* The section also outlines the personnel’s key duties and responsibilities

Answer 10

Management and Personnel

Question 11

[parts of business plan]
* This section details the products and services offered
* The section also gives an overview of the product’s target market and their profile.
* An important part of this section is the discussion of the 4 P’s of Marketing - product, price, place, and promotion

Answer 11

Marketing Plan

Question 12

[parts of a business plan]
* This section details the processes needed to make or produce the product and service
* The supply chain section discusses the flow of activities in purchasing or sourcing raw materials needed for the production of the product or service

Answer 12

Production/Operations Plan

Question 13

[parts of a business plan]
* includes details of the company’s financial planning and projections/forecast.
* reports such as total revenue/sales, expenses or production cost, and the total income gained from the venture

Answer 13

Financial plan