WEEK 6 Flashcards
BLUEPRINT OF INDIVIDUALS, ORGANIZATIONS OR GROUPS WHO WOULD LIKE TO ENGAGE IN BUSINESS
BUSINESS PLAN
Identify what purpose of business plan is stated:
WHAT WILL BE THE BUSINESS LIKE? WHAT KIND OF BUSINESS WILL BE ESTABLISHED? WHERE WOULD THE RAW MATERIALS COME FROM?
PROVIDES GUIDANCE FOR INVESTMENT DECISIONS AND CAPITAL EXPENDITURES.
Identify what purpose of business plan is stated:
PLANNING IS THE FIRST STEP TO MAKE IT SUCCESSFUL AS YOU WILL KNOW THE STEPS TO TAKE.
SERVES AS SELLING TOOL FOR ENCOURAGING INVESTMENT AND FINANCING
Identify what purpose of business plan is stated:
YOU WILL NEED TO IDENTIFY KEY PEOPLE INVOLVED IN YOUR BUSINESS. A BLUEPRINT OF THE ALL AFOREMENTIONED ASPECTS HAVE TO BE CLEARLY DEFINED.
SERVES AS GUIDE IN THE IMPLEMENTATION OF THE PLAN FOR BUSINESS INCLUDING THE MARKETING, PRODUCTION, ORGANIZATIONAL AND FINANCIAL ASPECTS OF THE ENTERPRISE
Identify what purpose of business plan is stated:
IT SERVES AS GUIDE IN BUSINESS POLICY FORMULATION.
PRESENTS A GENERAL PICTURE OF THE ENTERPRISE
THIS CONTAINS A BRIEF DESCRIPTION OF EACH PART OF THE BUSINESS PLAN. DESPITE BEING SHORT, THE WHOLE PICTURE OF THE PROPOSED BUSINESS MUST BE CLEAR ENOUGH TO CATCH THE INTEREST OF A POTENTIAL VENTURE CAPITALIST
EXECUTIVE SUMMARY
PRESENTS A CLEAR EXPLANATION OF THE BUSINESS CONCEPT, AVAILABLE OPPORTUNITY, TYPE OF INDUSTRY WHERE THE BUSINESS CONCEPT BELONGS, THE TARGET MARKET, THE KEY PEOPLE INVOLVED AND THE FINANCIAL REQUIREMENT OF THE BUSINESS.
INTRODUCTION
THIS SEGMENT TACKLES THE CHARACTERISTICS AND THE DETAILS OF THE PROPOSED IDEA.
PRODUCT OR SERVICE DESCRIPTION
THIS PART OF THE BUSINESS PLAN SHOWS A SITUATIONAL PRESENTATION, AT LEAST THREE TO FIVE YEARS OF CURRENT DATA, TRENDS AND LATEST UPDATES OF THE INDUSTRY WHERE THE PROPOSED BUSINESS IDEA BELONGS.
INDUSTRY ANALYSIS
INVOLVES THE SEARCH FOR, AND ANALYSIS OF, DATA THAT CAN BE USED TO IDENTIFY, ISOLATE, DESCRIBE, AND QUANTIFY A GIVEN MARKET OR GROUP OF CUSTOMERS
MARKET ANALYSIS
IDENTIFIES ALMOST ALL YOU NEED TO KNOW ABOUT YOUR TARGET CUSTOMERS, HOW YOUR PRODUCT WILL REACH THEM AND HOW YOU WILL MAINTAIN THEIR LOYALTY
MARKETING PLAN
LAYS DOWN THE SPECIFICS OF OPERATING OR RUNNING THE BUSINESS, AND IF THE MARKETING PLAN HAS THE P’S THAT MAKE UP THE MARKETING MIX, THE PRODUCTION OR OPERATIONAL PLAN HAS THE FOUR M’S THAT COMPRISE THE PRODUCTION OR OPERATION OF A BUSINESS
PRODUCTION OR OPERATIONAL PLAN
IT ALSO DESCRIBES THE LEGAL FORM THAT THE BUSINESS WILL TAKE: SOLE PROPRIETORSHIP, PARTNERSHIP OR CORPORATION.
ORGANIZATIONAL PLAN
SHOWS THE FINANCIAL OR FUNDING REQUIREMENT OF THE BUSINESS.
FINANCIAL PLAN
THIS PORTION IS INTENDED FOR MISCELLANEOUS ITEMS WHICH MAY NOT BE PUT IN THE MAIN PART OF THE BUSINESS PLAN
APPENDICES
