Textbook Notes (369,034)
Canada (162,358)
Commerce (495)
COMM 320 (49)
All (13)
Chapter 5

Entrepreneurship Chapter 5.docx

8 Pages
98 Views
Unlock Document

Department
Commerce
Course
COMM 320
Professor
All Professors
Semester
Fall

Description
THE BUSINESS PLAN CREATING AND STARTING THE VENTUREINTRODUCTION TO BUSINESS PLANNINGFor entrepreneurs writing a business plan is essential to raise money and to assist them in the daytoday management of their companyPLANNING AS PART OF THE BUSINESS OPERATIONTypes of plans than the business plan financial marketing human resources production sales etcPlans are shortterm or longterm strategic or operationalThe purpose of plans is to provide guidance and structure to management in a rapidly changing market environmentWHAT IS THE BUSINESS PLANBusiness plan a document describing all relevant internal and external elements and strategies for starting a new ventureAn integration of the functional plans mentioned earlierUsually addresses decision making for the first 3 years of operationAnswers Where am I now Where am I going How will I get thereWHO SHOULD WRITE THE BUSINESS PLANThe entrepreneur because he has to go through the writing and investigation process to under its businessSCOPE AND VALUE OF THE BUSINESS PLANWHO READS THE PLANThe plan is read by employees investors bankers venture capitalists suppliers customers advisers and consultantsThe entrepreneur must be prepared to address all the issues and concerns of each group of readers since each group will read it from a different perspectiveThe plan should address the following perspectivesoThe entrepreneur perspective must be able to clearly articulate what the venture is all aboutoThe marketing perspective must view the business through the eyes of the consumers
More Less

Related notes for COMM 320

Log In


OR

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


OR

By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.


Submit