Entrep: Chapter 1 Business Planning

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business plan

guide of entrepreneurs throughout any business endeavor

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purposes of a business plan

• entrepreneur's navigational course • serves investors and cautious financiers • managers and staff organizational strategies

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Contents of a Business Plan (1 - 5)

• Business Concept and Business Model

  1. Business Goals: Vision, Mission, Objectives

  2. Executive Summary

  3. Business Proponents

  4. Target Customers and Main Value Proposition

  5. Market Demand and Supply, Industry Dynamics, and Macro Environmental Factors

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Contents of a Business Plan (6 - 10)

  1. Product Service Offering

  2. Enterprise Strategy and Enterprise Delivery Strategy

  3. Financial Forecast

  4. Environmental and Regulatory Compliance

  5. Capital Structure and Financial Offering

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5
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business concept

contains the essence of an enterprise and stresses the value of the product offering to their target customers

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business model

• formula on how the enterprise plans to make money • translated from the product concept

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Four Areas of Moneymaking

revenues, cost, investments, and finance/funding

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8
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business goals

• show the future and long-term prospects of the enterprise • mission, vision, objectives, result, and performance indicators

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executive summary

the synthesis of the entire business plan that summaries contains everything that is relevant and important

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enterprise strategy

builds and develops the game plan for attaining competitiveness

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enterprise delivery system

the entire process of converting input resources into output outcomes

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target market

a group of customers with shared demographics who have been identified as the most likely buyers of a company's product or service

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target customers

take into regard sufficient size, paying capacity and interest to purchase

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main value proposition

unique selling proposition of the enterprise

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Social environment

the demographics and cultural dimensions that govern the relevant entrepreneurial behavior that dictate the major parameters of market behavior

• structure • social status • dynamics of the population • the people's beliefs, tastes, customs, and traditions

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Political environment

• defines the governance system of the country or the local area of business • drives the interest and foreign exchange rates • laws, rules, and regulations on allowable and disallowable business practices

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Ecological environment

includes all natural resources and the ecosystem that defines the habitat of man, animals, plants, and minerals

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Technological environment

makes or breaks competing participants in any industry

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