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entrep m3 finals

entrep finals

QuestionAnswer
a document in which business opportunity is identifies, describe and analye BUSINESS PLAN
examines the technical, economic, and financial feasibility of a business BUSINESS PLAN
Includes all short- and long-term goals; description of products or services; market opportunities; and a clear explanation of the needed resources and means BUSINESS PLAN
the most important part of the business plan which motivate and entice the reader to find out about the different aspects of the business venture Executive Summary
synthesis of the entire business plan; gives the general idea about the contents of the plan Executive Summary
A brief overview of the main points of a work. The Synopsis Summary
A detailed retelling of events, ideas, or plot in order. The Narrative Summary
communicates the basic details of the business in a brief form Company Description
evaluates industry’s standards, trends and characteristics Industry Analysis
-identifies and understands the customers -defines nature and size of the market Target Market
points who are the major competitors of the business, what basis is the business competing, how the business and competitors compare, potential future competitors, and barriers to entry for new competitors The Competition
(a) how customers get aware of the product (b) what message to be used to convey customers about the product, service or the company itself (c) specific methods to be used in the delivery and reinforcement of the message (d) how to secure sales Marketing plan
five F’s Functions, Finances, Freedom, Feelings, and Future
describes how the products are made or services are delivered, how orders are fulfilled, how quality standards are assured and how outputs are met Operations Plan
highlights the logistics of the organization such as the responsibilities of the management team, the tasks assigned to each division within the company, and capital and expense requirements related to the operations of the business Operations Plan
-focuses on two main areas: (a) the people who run the business; and (b) the management structure and style Management and Organization
-the easiest way to communicate the management structure is through a graphical organization flow chart Management and Organization
FIVE MOST IMPORTANT ELEMENTS OF MANAGEMENT STYLES Clear policies • Communication • Employee recognition • Employee’s ability to affect change • Fairness
-the most crucial part of the business plan Financial Plan
the entrepreneur needs to show that the business is going to be stable, profitable, and cash generative and that the entrepreneur is not going to take too much risks Lender
the entrepreneur needs to show that the business can become big and cash generative enough to make it easy to sell and enable to reach the target return Equity investo
translates into monetary terms the various plans for the business Financial Plan
Helps avoid rushed decisions and prepares the business for challenges and opportunities. 1. Dedicating Enough Time to Planning
Provides clear direction and purpose for the business and its stakeholders 2. Create Goals and Objectives
Measures progress against set targets and identifies areas for improvement. 3. Evaluating Performance
Ensures strategies remain relevant and allows adjustment when results fall short. 4. Gauging Business Strategy and Applying Due Correction
Assists in budgeting, forecasting, and securing funds from banks or investors. 5. Arranging Financial Resources
Maintains focus on long-term vision while executing short-term plans 6. Stay Consistent
Ensures objectives are realistic, trackable, and achievable within a timeline. 7. Keep Goals ‘SMART’
Identifies strengths, weaknesses, opportunities, and threats to guide strategy. 8. Performing SWOT Analysis
Helps understand the target market, customer needs, and competition. 9. Marketing Analysis
Created by: lessuy
 

 



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