Entrep: Chapter 1 Business Planning

0.0(0)
studied byStudied by 49 people
learnLearn
examPractice Test
spaced repetitionSpaced Repetition
heart puzzleMatch
flashcardsFlashcards
Card Sorting

1/17

flashcard set

Earn XP

Description and Tags

Study Analytics
Name
Mastery
Learn
Test
Matching
Spaced

No study sessions yet.

18 Terms

1
New cards
business plan
guide of entrepreneurs throughout any business endeavor
2
New cards
purposes of a business plan
• entrepreneur's navigational course
• serves investors and cautious financiers
• managers and staff organizational strategies
3
New cards
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
4
New cards
Contents of a Business Plan (6 - 10)
6. Product Service Offering
7. Enterprise Strategy and Enterprise Delivery Strategy
8. Financial Forecast
9. Environmental and Regulatory Compliance
10. Capital Structure and Financial Offering
5
New cards
business concept
contains the essence of an enterprise and stresses the value of the product offering to their target customers
6
New cards
business model
• formula on how the enterprise plans to make money
• translated from the product concept
7
New cards
Four Areas of Moneymaking
revenues, cost, investments, and finance/funding
8
New cards
business goals
• show the future and long-term prospects of the enterprise
• mission, vision, objectives, result, and performance indicators
9
New cards
executive summary
the synthesis of the entire business plan that summaries contains everything that is relevant and important
10
New cards
enterprise strategy
builds and develops the game plan for attaining competitiveness
11
New cards
enterprise delivery system
the entire process of converting input resources into output outcomes
12
New cards
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
13
New cards
target customers
take into regard sufficient size, paying capacity and interest to purchase
14
New cards
main value proposition
unique selling proposition of the enterprise
15
New cards
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
16
New cards
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
17
New cards
Ecological environment
includes all natural resources and the ecosystem that defines the habitat of man, animals, plants, and minerals
18
New cards
Technological environment
makes or breaks competing participants in any industry