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Exam 1 - business plan
Exam 1 - business plan
15
Health Care
Graduate
01/23/2013

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Term
Business plan = written doc that ...
Definition
describes in detail a proposed venture and its purpose
Term
Components of business plan (10)
Definition
executive summary,
description of business,
marketing,
research, design, & development,
location,
management,
critical risks,
financial forecasting,
milestone schedule,
appendix
Term
Executive summary =
Definition
short description of the venture (≤3 pages); whets reader's appetite for more info.

Completed AFTER finishing business plan
Term
Description of business =
Definition
brief history; services described in terms of unique qualities & value. Goals & milestones
Term
Key points within description of business (4)
Definition
ID business by NAME,
provide BACKGROUND of industry c hx of company,
describe POTENTIAL of venture,
spell out UNIQUE aspects of new venture
Term
Two major areas of marketing
Definition
research & analysis (target market),
marketing plan (market strategy)
Term
Research, Design, & Development: only necessary for...
Definition
PRODUCTS (not services)
Term
Aspects of location in business plan (5)
Definition
proximity to supplies,
transportation,
labor supply,
advantages of locale (zoning, taxes, etc),
facilities/equipment
Term
Selection of management based on:
Definition
their potential contribution
to the enterprise
Term
What to include in management section of business plan (4)
Definition
résumés of all key management,
description of legal structure,
discuss added assist (advisors, consultants, etc),
give compensation info
Term
Critical risks: hints (2)
Definition
discuss potential risks before investors point them out,
provide alternative course of action
Term
Financial forecasting =
(2)
Definition
budgeting & forecasting;
provides a standard against which to measure actual results
Term
Financial forecasting: hints (4)
Definition
give estimated statments,
name sources of funds,
present a budget,
create stages of financing
Term
Milestone schedule =
Definition
determination of objective & timing of their accomplishment; establishment AND monitoring
Term
Milestone schedule: hints (2)
Definition
timetable;
show relationship of events
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