ADMS 3920 Lecture Notes - Lecture 3: Business Plan, Financial Plan, Complexity Gaming

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Chapter 5_developing an effective business plan (strategic) business plan: a document that sets out the basic idea underlying a business and related start-up considerations. [a document that explains a) the basic idea(s), situation and opportunity underlying a b usiness and b) describes and quantifies what is its intended start-up and/or on-going operational game-plan] Identifies the factors that will most likely determine whether the venture will be successful. Formulating a (strategic) business plan is an ongoing process, not just one-time activity or the means to an end product or outcome! Document need to be a living", regularly updated document. Entrepreneur"s documented game plan" or road map" that communicates: where entrepreneur"s business is now, where that business is envisioned going by explaining what is the proposed approach for exploiting the. Identifies the nature, extent, timing and context of the business"s opportunity envisioned opportunity. Main emphasis due to need for substantiated envisionment. Primary focus: production of a strategic business plan document.

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