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the business plan (aspects covered in the business plan (description of…
the business plan
aspects covered in the business plan
description of the business
desction of the market
the target market should be geographically and demographically well defined
brief history of the business
description of the products or services
competitive advantages/UPS
should also point out their weaknesses
an estimate of how much money, tiime and other resources
table of contents
management and organisational structure of the business
executive summary
description of the objectives and goals of the business
cover sheet
projection of income, cash flow and costs
the purpose
the business plan acts as a road map of where a business venture is going
reasons to formulate the business plan
helps the entrepreneur work smarter not harder
creates a concern for realizing goals and showing progress
things a business plan cannot do
cannot predict the future
guarantee funding
fool all the people all the time
problems associated with the business plan
can become rapidly out dated
can cause inflexibility
some thing cannot be anticipated
international business plans
provides a detailed analysis of competitive advantages and disadvantages
involves decisions such as
export goods
to start a business in another country
to acquire a business in another country
to expand an existing business transnational
should also include
optimal operating strategies
a set of over all objectives
preparing the business plan
2) describe where you want to go and develop objectives
an action plan should contain
2 decide on the specific tasks to be completed in starting and acquiring a business
3 place the tasks to be completed on an action calendar
1 decide on the format and out line of the business plan
4 formulate the business plan and make adjustments
2) formulate an action plan
1) determine the president status of the business