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Entrepreneurship Management
Q . Good project report or Business plan?
A. It is essential for an entrepreneur & developing agencies since its provides
necessary information about the unit to be set up. It eliminates difficulties encountered
during project setup especially obtaining loans. It is basically an integration of functional
plans, such as marketing, finance, operations & HR to establish company’s goals and
objectives.
It basically addresses the questions:
Where am I now?
Where am I going?
How will I go there?
Format of a Business Plan
1. Introductory Page.
a. Name & address of business
b. Name & address of the promoter & partnership if any.
c. Nature of business
d. Treatment of financial need
2. Executive Summary (3 0r 4 pages comprising of complete business plan)
3. Industry analysis
a. Future outlook & trends
b. Analysis of competition
c. Market segmentation
d. Industry forecast
4. Description of venture
a. Products/service
b. Size of business
c. Office equipment & personnel
d. Background of entrepreneur
5. Production plan
a. Manufacturing process
b. Physical plant
c. Machinery & equip.
d. Name of suppliers of RM
6. Mktg. Plan
a. Pricing, distribution, promotion, product forecast & controls
7. Organizational plan
a. From of ownership, b. identification of partners & principal share holders, c.
Authority of principals, d. Mgmt team background, e. Role & responsibility of
members
8. Risk Assessment
Evaluate weakness of business, new technology, and contingency plan

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9. Financial plan.
Should include a. Performa income statement & Balance sheet, b. Cash flow
projections, c. Break even analysis, d. Sources & applications of funds
10. Appendix (containing backup material)
a. Letters, b. Mkt. research data, c. Leases & contracts, d. Price list for suppliers
***********************************************************************
Q. The executive summary of the business plan:
It is prepared after total plan is written. The executive summary should be two or three
pages in length and should stimulate the interest of the potential investor. It should not be
taken lightly by the entreprenuer since the investors uses the summary to determine the
worth of the business plan. Determining what is important would be difficult since every
business plan is different. A no. of significant issues should be addressed. First, briefly
describe the business concept. Second, data that support the opportunity for this venture
should be stated. E.g. trends and potential growth in the industry, internet business, growth
in no. of I-net users, growth in avg time spent on the net. After establishing the reallity of
the opportunity then state how it will be perused. What is the mktg strategy and how does
it differs from others. Next highlight key financial results that can be achieved importance
experience of entreprenuers, important contracts or other legal documents that are in place
which can assist in selling the business venture to a potential customer.
***********************************************************************
Q Why business plan fails?
Generally poorly prepared business plan can be blamed due to one or more of the following
factors,
Goals set are unreasonable
Goals are not measurable
The entrprenure has not made the total commitment to the business or to the family.
Entrepreneur has no experience in planned business
Entrepreneur has no sense of potential threats or weaknesses to the business.
No customer need for the proposed for the product or services.
Setting goals requires information about the type of business and the competitive
environment. Goals should be specific and not so mundane as to lack any business of
control. Entrepreneur may target a specific mkt share, units unsold or revenue. These goals
are measurable and can be monitored overtime. Lenders or investors will not be inclined
toward a venture that does not have full time commitment. Lenders or investors may expect
entrepreneur to make financial commitments even if it means second mortgage or a
depletion of savings. Lack of experience will result in failure unless the entrepreneur can
attend the necessary knowledge or team up with someone. The entrepreneurs should
document customer needs before preparing the plan. This can be identified from direct
experience, letters from customers or mkt research. Clear understanding of needs and how
the entrepreneur will effectively meet them is vital to the success of the new venture.

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Entrepreneurship Management Q . Good project report or Business plan? A. It is essential for an entrepreneur & developing agencies since its provides necessary information about the unit to be set up. It eliminates difficulties encountered during project setup especially obtaining loans. It is basically an integration of functional plans, such as marketing, finance, operations & HR to establish company’s goals and objectives. It basically addresses the questions: Where am I now? Where am I going? How will I go there? Format of a Business Plan 1. Introductory Page. a. Name & address of business b. Name & address of the promoter & partnership if any. c. Nature of business d. Treatment of financial need 2. Executive Summary (3 0r 4 pages comprising of complete business plan) 3. Industry analysis a. Future outlook & trends b. Analysis of competition c. Market segmentation d. Industry forecast 4. Description of venture a. Products/service b. Size of business c. Office equipment & personnel d. Background of entrepreneur 5. Production plan a. Manufacturing process b. Physical plant c. Machinery & equip. d. Name of suppliers of RM 6. Mktg. Plan a. Pricing, distribution, promotion, product forecast & controls 7. Organizational plan a. From of ownership, b. identification of partners & principal share holders, c. Authority of principals, d. Mgmt team background, e. Role & responsibility of members 8. Risk Assessment Evaluate weakness of business, new technology, and conting ...
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