MGT 3806 Chapter Notes - Chapter 4: Transfer Tax, Life Insurance, Sole Proprietorship
Document Summary
Advantages of organizing a business from scratch: define nature of the business, appropriate market, size & extent of operations, exact physical facilities, building. Disadvantages of organizing a business from scratch: risks. 91% have a time frame for goals & objectives. There are ten components in a plan: introductory page, executive summary, industry analysis, describe of venture, production plan, operational plan, marketing plan, organizational plan, assessment of risk, financial plans, appendix. Components of the plan: prepare a table of contents. Quick access to the various parts of the plan: prepare synopsis of the plan in an executive summary and background statement. Completed at the end of the complete plan. Statement of the intended mission of the venture: describe the management team. r sum and background of those making the decisions for the organization, establish business objectives. Business size (# of employees, square footage, # of facilities) Production levels (# of products, lines, unit production, inventory)
