LESSON 3-4 Flashcards
(47 cards)
written document
that outline the future
activity for an existing or
proposed business
venture.
BUSINESS PLAN
is the formal written
expression of the
entrepreneurial vision,
describing the strategy
and operations of the
proposed venture.
BUSINESS PLAN
document that brings
together the key elements
of a business that include
details about the products
and services, the cost,
sales and expected profits.
BUSINESS PLAN
serves as the blueprint
of the business.
BUSINESS PLAN
Parts of a
Business Plan
-Executive Summary
-Management and Organization
-Product and Service Plan
-Market Plan
provides an overview of your
business plan, emphasizing key elements and arguments
that illustrate the business’s potential for success and
relevance to the audience.
Executive Summary
An executive summary should include:
-Description of the proposed business: The company’s
mission statement and/or vision statement and
Overview (Information about the company’s owners)
-Description of the market opportunity to capture: An
outline of your business model (problem and solution)
and the target market
-Reasons why your business is an attractive one: The
competition and what sets you apart
-Key distinctions of the business: An implementation
plan for bringing the business into the real world and
your reader’s next action
-Overview of projected financials containing the initial
capital, expected profit, and expenses: The company’s
current financial status, goals, projections (over at
least three years) and needs and your sales strategies
and campaigns
part of a business plan
focuses less on the business itself and more on the people
behind it. A business is only as good as the people making
decisions. It is sometimes called as “organizational
management” or “business management” that refers to
the activities involved in the four general functions:
planning, organizing, leading, and controlling.
Management and Organization
Identifying goals, objectives,
methods, resources,
responsibilities, and timelines
to achieve tasks.
-PLANNING
Arranging resources to
achieve goals in an optimal
way.
-ORGANIZING
Setting direction and
influencing people to follow
that direction.
-LEADING
Coordinating systems,
processes, and structures to
effectively and efficiently
reach objectives while
adjusting as needed.
-CONTROLLING
Importance of a Business Name
-First Impression
-Brand Representation
-Unique Industry Position
It is the first thing customers see and influences initial perceptions.
First Impression
Reflects the essence of the
business and conveys key information about the
company, products, and values.
Brand Representation
Establishes trust, authority,
and expertise, helping the brand stand out.
Unique Industry Position
5 Steps to Naming Your Business
1.Brainstorm Names
2.List the Best Names
3.Follow Naming Rules
4.Check Availability
5.Register the Name
Generate creative options.
Brainstorm Names
Narrow down to the strongest
contenders.
List the Best Names
Ensure compliance with business
structure requirements.
Follow Naming Rules
Confirm the name isn’t already in use.
Check Availability
Secure legal rights to use it.
Register the Name
a graphic representation or symbol used
on company communications, marketing, and advertising
materials. It is often the first thing noticed and plays a
critical role in establishing brand identity.
business logo
Functions of a Logo
-Inspire Trust
-Recognition
-Admiration
