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101 business plans
E II
| 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 marketing 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 organized. |
| Capital investment | the amount of money the business has invested in its goods and other property. |
| Capital 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; 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 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 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, 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 mush 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 todo with (or during) a specific timeframe |
| liabilities | responsibilities of the business, especially legal responsibilities |
| life cycle | the stage through which goods and services move 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. |
| 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 |
| 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 function |
| 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 new creation of a new product |
| product promotion | a type of promotion that aims to persuade consumers to buy a good or service |
| resources | any item that is used to accomplish another activity, such as production/providing goods or services |
| return on equity | financial ratio calculated be dividing net income by book value |
| return on investment | financial ratio calculated be 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 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 3 to 5 years out |
| strategy | plan if 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 2 companies do business through (or using) a third company |
| venture | a business or business project, usually new |
| profit | monetary reward a business owner receives for taking the risk involved in investing in a business; income left once all expenses are paid |
Created by:
peyton.b701
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