ACC1200 Lecture 7: ACC1200 - WEEK 7 NOTES
22 May 2018
School
Department
Course
Professor
Week 7: Business Planning and Performance
Measurement
A business needs to be carefully consider the following before commencing:
• Structure
• Mission
• Goals and objectives
Business planning provide a vision for where the business is heading and performance measures
assists the owners to see where the targets are being realized. Sometimes plans need to be
reassessed due to the unattainable nature.
Business Plan:
• A written document that explains and analyses an existing business venture
• Provides direction for and clarity of the goals and strategy
• Important to success
Functions of a business plan
• To communicate the future of the business
• To covey credibility of the business
• To act as an organising tool
• To assist in raising finance
Components of a business plan:
• An executive summary (report or journal article, key features)
• Background (owners business history and business goals)
• Marketing
• Operations and productions (legal, staffing, business location, assets)
• Financial projections (forecast to estimate the success)
• Implementation timetable
• Appendices (Supporting documents for data)
find more resources at oneclass.com
find more resources at oneclass.com
Document Summary
A business needs to be carefully consider the following before commencing: Business planning provide a vision for where the business is heading and performance measures assists the owners to see where the targets are being realized. Sometimes plans need to be reassessed due to the unattainable nature. Business plan: a written document that explains and analyses an existing business venture, provides direction for and clarity of the goals and strategy. Functions of a business plan: to communicate the future of the business, to covey credibility of the business, to act as an organising tool, to assist in raising finance. Components of a business plan: an executive summary (report or journal article, key features, background (owners business history and business goals, marketing, operations and productions (legal, staffing, business location, assets, appendices (supporting documents for data) This should be done before the business commences operations, enables comparison with the actual results via performance analysis.
