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Entrepreneurship
Chapter 1- Planning the Enterprise
| Question | Answer |
|---|---|
| guide of entrepreneurs throughout any business endeavor | business plan |
| • entrepreneur's navigational course • serves investors and cautious financiers • managers and staff organizational strategies | purposes of a business plan |
| 1. Business Goals: Vision, Mission, Objectives 2. Executive Summary 3. Business Proponents 4. Target Customers and Main Value Proposition 5. Market Demand and Supply, Industry Dynamics, and Macro Environmental Factors | Contents of a Business Plan (1 - 5) |
| 6. Product Service Offering 7. Enterprise Strategy and Enterprise Delivery Strategy 8. Financial Forecast 9. Environmental and Regulatory Compliance 10. Capital Structure and Financial Offering | Contents of a Business Plan (6 - 10) |
| contains the essence of an enterprise and stresses the value of the product offering to their target customers | business concept |
| • formula on how the enterprise plans to make money • translated from the product concept | business model |
| revenues, cost, investments, and finance/funding | Four Areas of Moneymaking |
| • show the future and long-term prospects of the enterprise • mission, vision, objectives, result, and performance indicators | business goals |
| the synthesis of the entire business plan that summaries contains everything that is relevant and important | executive summary |
| builds and develops the game plan for attaining competitiveness | enterprise strategy |
| the entire process of converting input resources into output outcomes | enterprise delivery system |
| a group of customers with shared demographics who have been identified as the most likely buyers of a company's product or service | target market |
| take into regard sufficient size, paying capacity and interest to purchase | target customers |
| unique selling proposition of the enterprise | main value proposition |
| the demographics and cultural dimensions that govern the relevant entrepreneurial behavior that dictate the major parameters of market behavior | Social environment |
| • structure • social status • dynamics of the population • the people's beliefs, tastes, customs, and tradition | Social environment factors |
| • defines the governance system of the country or the local area of business • drives the interest and foreign exchange rates • laws, rules, and regulations on allowable and disallowable business practices | Political environment |
| includes all natural resources and the ecosystem that defines the habitat of man, animals, plants, and minerals | Ecological environment |
| makes or breaks competing participants in any industry | Technological environment |
| they will want to know who else are on board to share the burden of raising money to see the whole thing through | resource providers |
| they will want to know if there will be enough sufficient funds to pay for the technology | technology providers |
| they will want to know what strategies and performance indicators are being proposed | governance and top management |
| they will want to know what programs, activities, tasks, and resources would be in place | operating and support team |
| is the unique selling proposition of the enterprise | main value proposition |
| must be described by highlighting the features and attributes that would most appeal to the target customers | Product/ service |
Created by:
yuniskie
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