ENTREP. 11: Planning The Enterprise (PART 1)

Covers slides 20-73 of the PowerPoint, which can be found here: https://docs.google.com/presentation/d/1nSpGS5x8dLefye-8VCoIWGhl7Ll5daE5jBdcAsezITE/edit?usp=sharing

Business Opportunity

In a business sense, it is an idea with commercial potential. It can also be defined as something you can make money from, build a business around, or create value with.

Entrepreneurial Mind Frame

• It allows the entrepreneur to see things in a very positive and optimistic light in the midst of a crisis or difficult situations. 

• Instead of being discouraged, the entrepreneur is able to use these problematic situations as inspiration for creating something innovative. 

Entrepreneurial Heart Flame

Driven by passion or the strong will to succeed, they are drawn to find fulfillment in the act and process of discovery.

Entrepreneurial Gut Game

This refers to the ability of the entrepreneur to sense without using the five senses, or also known as intuition.

Lakas ng Loob

It is the local dialect of gut game which connotes courage.

Business Plan

It is a document that defines in detail a company’s objectives and how it will achieve them. These are written to guide the entrepreneur on which strategies would be most beneficial for the enterprise to take. Additionally, it must have a specific audience in mind.

1. Entrepreneur

2. Investors and cautious financiers

3. Managers and staff

The business plan serves these 3 masters.

1. Introduction
   - The Business Concept and The Business Model
   - The Business Goals: Vision, Mission, Objectives, and Performance Targets
   - The Business Offering and Justification

2. Executive Summary

3. The Business Proponents

4. The Target Customers and The Main Value Proposition to the Customer

5. The Market Justification

6. The Product and Service Offerings

7. The Enterprise Strategy and Enterprise Delivery Systems: Business Competitiveness

8. The Financial Forecasts and Expected Returns, Risks, and Contingencies

9. Environmental and Regulatory Compliance

10. The Capital Structure and Financial Offering

The Format of a Good Business Plan.

1. The Business Concept and The Business Model

2. The Business Goals: Vision, Mission, Objectives, and Performance Targets

3. The Business Offering and Justification

The parts of the business plan’s introduction

Business Concept

It contains the essence of the enterprise in a concise but powerful manner.

Business Model

It is a formula on how the enterprise exactly plans to make money out of the business.

Business Goals

• These show the future and long-term prospects of the enterprise.

• It is composed of the vision, mission, objectives, key result areas, and performance indicators of the enterprise.

Objectives

It is a measurable end result. Usually, these revolve around the customers, the market, and the financial outcomes desired.

Key Result Areas

These are qualitative manifestations that the objective is being realized.

Performance Indicators

These provide the numerical or quantitative measure for each and every KRA.

Vision

It is an idealized state that the enterprise wants to achieve at a specified future time.

Mission

It is the purpose of the enterprise’s existence.

Core Values and Beliefs

It describes behaviors and ideas that are important to your organization.

Qatar National Vision 2030

Its aim is to transform Qatar into an advanced society capable of achieving sustainable development.

Ambisyon Natin 2040

In 2040, all Filipinos will enjoy a stable and comfortable lifestyle, secure in the knowledge that we have enough for our daily needs and unexpected expenses.

Executive Summary

A part of the business plan which contains everything that is relevant to the audience.