The Business Plan Flashcards
1
Q
Components of business plan
A
- name and description of business
- objectives
- market study
- production study
- financial aspect
- organizational aspect
2
Q
Objectives
A
What entrepreneur likes his business to attain over a period of time.
3
Q
what does SMART mean
A
Specific Measurable Attainable Realistic Time-bound
4
Q
What are under the market study?
A
- kind of product or service to offer(salon)
- volume of product or scope of service( haircut, manicure)
- service strategies(with tv or aircon)
- pricing(attainable? high end?)
- forms of promotion(flyers,commercial)
- methods of distribution(individual, online, packed)
5
Q
What are under the production study?
A
- process of production(manual, machine,robot)
- equipment needed
- facility requirements
- supply chain necessities
- production personnel
6
Q
What are under the financial aspect? Working capital to cover:
A
Business expenses
Source of funds
Product costs
Financial projections (expected revenues and profits)
7
Q
What are under organizational aspect: business type:
A
Single proprietorship Partnership Corporation -people who help manage the business -role of the owner in the enterprise(job description)
