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E2 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 moment |
| Barrier 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 blue print for success; shows how the business works now and how it is intended to work in the future; written business model |
| Business Structure | the company's configuration of employees for accomplishing specific business tasks; how the business is organized |
| Capital Investment | the amount of money a business had invested in its goods and other property |
| Capital Structure | the organization of influx and outflow of the company's money, including where the money goes on a regular basis; how aw 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; also known as stockholders' or shareholders' equity, book value and net worth |
| 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 worth while 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 project |
| 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 (ex. 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 do within a specific time frame |
| Liabilities | Responsibilities of the business, especially legal responsibilities |
| Life Cycle | the stages through which goods and services from the time they are introduced 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 |
| Marketing Position | the rank of a particular government 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 customers 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 after all expenses are paid |
| Resources | any item that is used to accomplish another activity, such as producing/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 license pays to a licensor; usually anywhere form 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's as a whole; usually 3 to 5 years out |
| Strategy | 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 through or using a third company |
| Venture | a business or business project, usually new |
Created by:
haiden.b498
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