Lecture 2: Business Plan

Labor Unions

Organizations that represent workers and can influence production and supply chains through strikes.

Upstream Effect

The impact on suppliers and manufacturers when workers in related industries go on strike.

Business Plan

A written document that outlines the details of a business, including its goals, strategies, and operations.

Executive Summary

A brief overview of a business plan that highlights key points for quick understanding by executives.

Market Analysis

An assessment of the target audience, market size, demographics, and competitive landscape for a business.

SWOT Analysis

A strategic planning tool that identifies a business's Strengths, Weaknesses, Opportunities, and Threats.

Organization and Management

The structure of a business, including its legal formation (LLC, S-Corp, etc.) and management team.

Products or Services

A detailed description of what a business offers, including production and delivery processes.

Marketing and Sales Strategy

The approach a business takes to promote its products and attract customers.

Financial Plan

A section of the business plan that outlines the financial aspects, including revenue projections and funding needs.

Risk Analysis

An evaluation of potential risks a business may face and strategies to mitigate them.

Exit Strategy

A plan for how a business owner will exit the business, including conditions for shutting down or selling.

Appendix

Supplementary materials that provide additional information or details relevant to the business plan.

Lean Model/Canvas

A simplified version of a business plan that focuses on core highlights and is useful for quick pitches.

Competitive Goods

Products or services that compete for the same customer dollar in the marketplace.