BUSINESS PLAN Flashcards
is a written document prepared by the entrepreneur that describes all the relevant external and internal elements involved in starting a new venture.
business plan
who should write the business plan?
entrepreneur, accountant, lawyers, engineers and marketing consulant
three perspectives that should be considered in preparing a business plan
- perspective of an entrepreneur
- marketing perspective
- perspective of an investor
this section of business plan is prepared after the total plan is written
executive summary
an evaluation of cultural changes may consider shifts in the population by demographics
culture
technological development will require the entrepreneur to make careful short term marketing decisions
technology
the entrepreneur should be prepared for any future legislation that may affect the product service, channel of distribution, price or promotion strategy
legal concerns
demand as it relates to the industry is often available from published sources
industry demand
most entrepreneurs generally face potential threats from larger corporation
competition
should be detailed in this section of business plan. this will enable the investor to ascertain the size and scope of the business
description of venture
the plan should describe the complete manufacturing process
production plan
this section goes beyond the manufacturing process and describe the flow of goods and services from production to the customer
operations plan
a non-manufacturer such as a retailer or service provider would also need this section in the business plan to explain the chronological steps in completing a business plan
operations plan
important part of the business plan since it describes how the products or services will be distributed, priced and promoted
marketing plan
specific forecasts for a product or service are indicated to project profitability of the venture
marketing plan
