What is the basic structure of a business plan?
What will be an ideal response?
ANSWER: A business plan usually has 10 sections and the ideal length is 25 pages. The beginning section is the summary. The summary gives a brief overview of what is to follow and helps put all the information into perspective. The summary is followed by the business description segment, which identifies any special significance of the venture. The marketing segment follows with its market niche and market share projections, competitive analysis, pricing policy, advertising plan, and market strategy. The fourth section is the research, design, and development segment. The entrepreneur should have technical assistance in preparing a detailed discussion. The next segment, the manufacturing segment, should always begin by describing the location of the new venture. The management segment should identify the key personnel, their positions and responsibilities, and the career experiences that qualify them for those particular roles. The critical risks segment identifies potential risks that are usually outside factors. The financial segment contains a pro forma balance sheet along with an income statement and a cash-flow statement. The milestone schedule segment provides investors with a timetable for the various activities to be accomplished. The last section is the appendix or bibliography segment. The appendix or bibliography segment is not mandatory, but it allows for additional documentation that is not appropriate in the main parts of the plan.
You might also like to view...
The just cause/due process standard applies to:
a. public sector employees b. most unionized employees c. employees residing in Montana d. all of these are true e. a and b only
What is the difference between strategic planning and operational planning?
A. Strategic plans are for one year or less and have very specific objectives, while operational plans are more vague and long-term. B. Strategic planning covers the short-term day-to-day workings of a business, while operational planning sets out long-term goals. C. Strategic planning sets out strategies for the business to achieve long-term growth and other goals, while operational planning covers the day-to-day operations of the business. D. Strategic planning is reserved for middle management in large companies.
which of the following are benefits of constructive conflicts?
a. creating yes-men b. creating new ideas c. building consensus d. combating groupthink e. spurring competition among employees
List the criteria necessary for an expenditure to be deductible as a trade or business expense or an expense for the production of income.
What will be an ideal response?