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Ell obj 1.01
LAP Sm-007 Nature of Business Plan
| Term | Definition |
|---|---|
| accounting | the process of keeping and interpreting financial records |
| appendix | a segment added to the end of a document; includes supporting information |
| balance sheet | a financial statement that captures the financial condition of the business at that particular business |
| barriers to (market) entry | anything that blocks the way or makes it more difficult to enter a particular market |
| bottom line | net outcome |
| business model | the company's method or plan for making money |
| business plan | a company's blueprint for success; shows how the business works now and how it is intended to work in the future; the written business model |
| business structure | the company's configuration of employees for accomplishing specific business tasks; how the business is originated |
| capital investment | the amount of money the business has invested in its goods and other property |
| capitol structure | the organization of the influx and outflow of the company's money, including where the money goes on a regular basis; how a business pays for its operations |
| cash flow | the movement of funds into and out of a business; determines the amount of cash the business has to work with at any given time |
| cost estimate | a ball-park figure (or guess) of how much will be spent on a given activity |
| equity | assets minus liabilities (or guess) of how much will be pent on a given activity |
| Executive summary | the most important part of a company's business plan because it gives an overview of the entire document; used to determine whether it is worthwhile to read any further |
| finance | the process of obtaining funds and using them to achieve the goals of the business |
| financial plan | the part of a company's business plan that shows how the business has performed (or is likely to perform) financially; how a business intends to use its money |
| financial resources | all the sources of money available to a business or product |
| financing costs | funding a business activity or project through debt, equity, or venture capital |
| fixed assets | items of value a business owns that are not expected to change, e.g., buildings |
| funding | money available to a business from one or more sources |
| human resources | people who work to produce goods and services |
| income statement | a financial summary that shows how much money the business has made or has lost over a period of time; also called the profit-and-loss statement. |
| letter of intent | a document communicating what a person or business intends to o within (or during) a specific timeframe |
| liabilities | responsibilities of the business, especially legal responsibilities |
| life cycle | the stages through which goods and services move from the time they are introduces on the market until they are taken off the market |
| management | the process of coordinating resources in order to accomplish an organization's goals |
| market analysis | a systematic study of the market |
| market position | the rank of a particular business in a specific market |
| marketing | an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relations in ways that benefit the organization and its stakeholders |
| marketing plan | a set of procedures or strategies for attracting the target customer to a business |
| niche | the small segment of the total market interested in a subject |
| operations | the day-to-day activities required for continued business functioning |
| physical resources | material items used to accomplish another activity |
| product | the good, service, or idea a business offers its customers |
| product development | the efforts involved in the creation of a new product |
| product promotion | a type of promotion that aims to persuade consumers to buy a good or service |
| profit | monetary reward a business owner receives for taking the risk involved in investing in a business; income left once all expenses are paid |
| resources | any item that is used to accomplish another activity, such as producting/providing goods and services |
| return on equity | financial ratio calculated by dividing net income by book value |
| return on investment | financial ratio calculated by dividing net profit by investment |
| risk management plan | a business document that involves the planning, controlling, preventing, and procedures involved in limiting business losses; optimizes the relationship of potential loss to gain |
| royalties | a percentage of actual sales that a licensee pays to a licensor; usually anywhere from 5 to 15 percent |
| sales volume | the amount of a firm's sales; usually expressed in dollars |
| strategic plan | long-range plan for the company as a whole; usually three to five years out |
| stratgey | plan of action for achieving goals and objectives |
| table of contents | the portion of a document in which the sections are listed with their page numbers for easy access |
| target market | the particular group of customers a business seeks to attract |
| third-party agreement | legal or financial arrangement in which two companies do business though (or using) a third company |
| venture | a business or business project, usually new |
Created by:
molly.h261
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