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Topic 3 Crafting a business plan - Coggle Diagram
Topic 3 Crafting a business plan
Benefit: best insurance against launching a business destined to fail or mismanaging a potentially successful company
Key element
Description of a Firm’s Product or Service
Business and Industry Profile
Mission and Vision Statement
Competitor Analysis
Executive Summary
Title Page and Table of Contents
Marketing Strategy
Entrepreneurs’ and Managers’ Resumes
Pro Forma (Projected) Financial Statements
Plan of Operation
The Loan or Investment Proposal
5Cs
Capacity
Collateral
Capital
Character
Condition
important of strategic management
developing a game plan to guide the company as it works to accomplish its vision, mission, goals, and objectives and to keep it from straying off course.
Competitive advantage
Pricing they offer
Way they sell
Service they provide
Values to which they are committed
Product they sell
Strategic management process
Analyze competition
Create goals & objectives
Identify key success factors
Formulate strategies
Scan environment for opportunities and threats
Translate plans into actions
Assess strengths and weaknesses
Establish accurate controls
Develop a vision and translate it into a mission statement
Characteristic of three basis strategies
Differentiation
Focus
Low cost
Balanced Scorecards
Innovation
Financial
Internal Business
Corporate Citizenship
customer