Global Entrepreneurship and Small Business Management: Basic Types of Enterprises

Starting a business from your own idea is the most popular form of ______

Buying a franchise in an existing business lowers the risk because the concept has been tested, marketing already exists, and you almost ready to get into business right away. 3. Buying an existing business - Buying an existing business is often a simpler and safer alternative than starting up your own. It also does not have the strings attached when buying a ______

A business plan is a document describing a company's core business activities and how it plans to achieve its ______

Business plans vary in content and size according to the nature and size of the business concerned and on the emphasis that is placed on certain critical areas as opposed to others. PARTS OF A BUSINESS ______

The format provides you with a framework for presenting your thoughts, ideas and strategies in a logical, consistent and ______ manner.

The business plan format helps you to clarify your own ideas and present them clearly to Others. Section 1: Executive Summary The executive summary goes near the beginning of the plan but is ______ last. It provides a short, concise, and optimistic overview of your business that captures the reader's attention and creates a need to learn more. Section 2: Business/Industry Overview The introductory section of a business plan covers three topics. First, the legal name and location of the company is identified. Second, a brief description of the background and experience of the owners and main employee is provided. Third, a description of the company’s product or service, potential customers, and competition is presented. 6 Section 3: Market Analysis and Strategy In this section, you need to demonstrate that you have thoroughly analyzed the target market and that there is enough demand for your product or service to make your business viable. Section 4: Sales and Marketing Plan This section includes the business activities necessary to get goods and services from the producer to the consumer. It also includes the product or service planning, risk management, marketing information management, promotion, pricing, financing, distribution, purchasing, and selling. 7 Section 5: Management and Organization Plan Ownership Structure - describe the legal structure of your company. Management Team - describe managers and their roles, key employee positions, and how each will be compensated. Include brief resumés. External Resources and Services - list any external professional resources required, such as accountants, lawyers, consultants, etc. Human Resources - list the type and number of employees or contractors you will need and an estimate of the salary and benefit costs of each. Advisory Board (if required) - include an advisory board as a supplemental management resource (if applicable). Section 6: Operating Plan Development (if applicable) Explain what you have done to date in terms of identifying possible locations, sources of equipment, supply chains, etc. Production For manufacturing, explain how long it takes to produce a unit and when you'll be able to start producing your product or service. Facilities Describe the physical location of the business including location, land, and building requirements. Include square footage estimates with room for expansion if expected. Staffing Outline expected staffing needs and the main duties of staff members, especially the key employees. Equipment Include a list of any specialized equipment needed. Include the cost and whether it will be l.

Section 2: Business/Industry Overview The introductory section of a business plan covers three topics. First, the legal name and location of the company is identified. Second, a brief description of the background and experience of the owners and main employee is provided. Third, a description of the company’s product or service, potential customers, and competition is presented. 6 Section 3: Market Analysis and Strategy In this section, you need to demonstrate that you have thoroughly analyzed the target market and that there is enough demand for your product or service to make your business viable. Section 4: Sales and Marketing Plan This section includes the business activities necessary to get goods and services from the producer to the consumer. It also includes the product or service planning, risk management, marketing information management, promotion, pricing, financing, distribution, purchasing, and selling. 7 Section 5: Management and Organization Plan Ownership Structure - describe the legal structure of your company. Management Team - describe managers and their roles, key employee positions, and how each will be compensated. Include brief resumés. External Resources and Services - list any external professional resources required, such as accountants, lawyers, consultants, etc. Human Resources - list the type and number of employees or contractors you will need and an estimate of the salary and benefit costs of each. Advisory Board (if required) - include an advisory board as a supplemental management resource (if applicable). Section 6: Operating Plan Development (if applicable) Explain what you have done to date in terms of ______ing possible locations, sources of equipment, supply chains, etc. Production For manufacturing, explain how long it takes to produce a unit and when you'll be able to start producing your product or service. Facilities Describe the physical location of the business including location, land, and building requirements. Include square footage estimates with room for expansion if expected. Staffing Outline expected staffing needs and the main duties of staff members, especially the key employees. Equipment Include a list of any specialized equipment needed. Include the cost and whether it will be l.

Third, a description of the company’s product or service, potential customers, and competition is presented. 6 Section 3: Market Analysis and Strategy In this section, you need to demonstrate that you have thoroughly analyzed the target market and that there is enough demand for your product or service to make your business ______. Section 4: Sales and Marketing Plan This section includes the business activities necessary to get goods and services from the producer to the consumer. It also includes the product or service planning, risk management, marketing information management, promotion, pricing, financing, distribution, purchasing, and selling. 7 Section 5: Management and Organization Plan Ownership Structure - describe the legal structure of your company. Management Team - describe managers and their roles, key employee positions, and how each will be compensated. Include brief resumés. External Resources and Services - list any external professional resources required, such as accountants, lawyers, consultants, etc. Human Resources - list the type and number of employees or contractors you will need and an estimate of the salary and benefit costs of each. Advisory Board (if required) - include an advisory board as a supplemental management resource (if applicable). Section 6: Operating Plan Development (if applicable) Explain what you have done to date in terms of identifying possible locations, sources of equipment, supply chains, etc. Production For manufacturing, explain how long it takes to produce a unit and when you'll be able to start producing your product or service. Facilities Describe the physical location of the business including location, land, and building requirements. Include square footage estimates with room for expansion if expected. Staffing Outline expected staffing needs and the main duties of staff members, especially the key employees. Equipment Include a list of any specialized equipment needed. Include the cost and whether it will be l.

Section 4: Sales and Marketing Plan This section includes the business activities necessary to get goods and services from the producer to the consumer. It also includes the product or service planning, risk management, marketing information management, promotion, pricing, financing, distribution, purchasing, and selling. 7 Section 5: Management and Organization Plan Ownership Structure - describe the legal structure of your company. Management Team - describe managers and their roles, key employee positions, and how each will be compensated. Include brief resumés. External Resources and Services - list any external professional resources required, such as accountants, lawyers, consultants, etc. Human Resources - list the type and number of employees or contractors you will need and an estimate of the salary and benefit costs of each. Advisory Board (if required) - include an advisory board as a supplemental management resource (if applicable). Section 6: Operating Plan Development (if applicable) Explain what you have done to date in terms of identifying possible locations, sources of equipment, supply chains, etc. Production For manufacturing, explain how long it takes to produce a unit and when you'll be able to start producing your product or service. Facilities Describe the physical location of the business including location, land, and building requirements. Include square footage estimates with room for expansion if expected. Staffing Outline expected staffing needs and the main duties of staff members, especially the key employees. Equipment Include a list of any specialized equipment needed. Include the cost and whether it will be l.

Facilities Describe the physical location of the business including location, land, and building requirements. Include square footage estimates with room for expansion if expected. Staffing Outline expected staffing needs and the main duties of staff members, especially the key employees. Equipment Include a list of any specialized equipment needed. Include the cost and whether it will be ______.