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VB 01

Aspects of a Business Plan

TermDefinition
Delegating type of management that trusts employees’ work ability, has a high workload and is confident
Participating type of management that involves the group and facilitates teamwork
Telling type of management that is a micromanager, a teacher and a facilitator
Autocratic type of leadership driven by authority; tells others what to do, limits discussions, new ideas and group teamwork
Democratic type of leadership that involves the group and promotes a sense of teamwork
Laissez Faire type of leadership that gives little or no direction; gives opinions only upon request and has no “in charge” position
Internal Communication occurs within an organization
External Communication occurs between one organization and an outside party
Encoding when a sender selects and organizes message to be sent
Decoding when the receiver breaks down the message received and interprets the message received
Feedback the response the receiver provides to the sender’s message, can be verbal or nonverbal
Executive Summary first section of a business plan; highlights proposed business and financial data; should convince the audience to read the rest of the plan
Business Description and Analysis second section of a business plan; includes details such as business type, business philosophy, product description, self-analysis, trading area analysis, market segment analysis, and analysis of potential location
Organization and Marketing Plan third section of a business plan; includes details concerning proposed organization, proposed product, and proposed marketing plan
Financial Plan fourth section of a business plan; includes sources of capital and projected income and expenses
Supporting Documents fifth and last section of a business plan; includes business communication documents, marketing documents, and legal and miscellaneous documents
Created by: wallerd
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