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E II
101 business plans
| 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 | A financial statement that capture 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 blueprint for success; shows how the business works now and how it is supposed to work later |
| Business structure | The company's configuration of employees for accomplishing specific business tasks; how the business is organized |
| Capital investment | the acquisition of physical assets by a company for use in furthering its long-term business goals and objectives |
| Capital structure | the mix of various forms of external funds, known as capital, used to finance a business |
| Cash flow | a measurement of the amount of cash that comes into and out of your business in a particular period of time |
| Cost estimate | the approximation of the cost of a program, project, or operation. |
| Equity | Assets minus liabilities |
| Executive summary | a summary of the most important information in your project plan |
| Finance | The process of of obtaining funds and using them to achieve the goals of the business |
| Financial plan | involves a thorough examination of your income and spending |
| Financial resources | All the sources of money available to a business or project |
| Financing costs | the cost, interest, and other charges involved in the borrowing of money to build or purchase assets. |
| Fixed assets | assets which are purchased for long-term use and are not likely to be converted quickly into cash, such as land, buildings, and equipment. |
| Funding | the act of providing resources to finance a need, program, or project. |
| Human resources | any person who is compensated for supplying skills or knowledge to help an organization achieve its business goals |
| Income statement | a financial statement that lays out a company's revenue, expenses, gains, and losses during a set accounting period |
| Letter of intent | A document communicating what a person or business intends to do within a specific time frame |
| Liabilities | Liability is a state of being legally responsible for something, or something that is owed. It can also refer to a financial obligation or a legal risk. |
| Life cycle | the sequence of biological changes that occurs as an organism develops from an egg into an adult until its death |
| Management | Management is the administration of organizations |
| Market analysis | A market analysis studies the attractiveness and the dynamics of a special market |
| Market position | the ability to influence consumer perception regarding a brand or product relative to competitors |
| Marketing | An organization function and set of processes for creating value and managing customer relations in ways that benefit the organization and it's stakeholders |
| Marketing plan | a strategic guide that helps businesses map out their advertising and promotional strategies to attract prospective customers and connect with their intended audience |
| 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 item offered for sale |
| Product development | the creation and launch of products to meet customer needs |
| Product promotion | the process of explaining the value of a product to potential and existing customers to educate, generate interest, and spur purchase |
| Profit | the money you have left after paying for business expenses |
| Resources | all the materials available in our environment which are technologically accessible, economically feasible and culturally sustainable and help us to satisfy our needs and wants |
| Return of equity | a key measure of a company's financial performance |
| Return of investment | Return on investment or return on costs is the ratio between net income and investment |
| Risk management plan | A risk management plan is a document to foresee risks, estimate impacts, and define responses to risks |
| Royalties | a payment made to an individual or company for the ongoing use of their property |
| Sales volume | the number of units your company sells during a specific reporting period |
| Strategic plan | A strategic plan is a document used to communicate with the organization the their goals |
| Strategy | Strategy is a general plan to achieve one or more long-term or overall goals |
| Table of contents | The portion of a document in which the sections are listed with their page numbers for easy access |
| Target market | a specific group of potential customers who a business aims to reach with its products or services |
| Third-party agreement | an contract between two parties that is used to add a third party to be governed under the terms of the original agreement |
| Venture | a new business or activity that involves risk and the potential for profit |
Created by:
Makenley
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