Mastering Business Plans

Business Plan = Written map for beginning and growing a business; includes a mission, business goals and objectives Mission = Clear broad statement describing the purpose of the organization Goals = General statements of what needs to be achieved and accomplished to achieve the mission Objectives = Specific, time-sensitive accomplishments used to measure the progress toward achieving goals and the mission statement

Market Analysis = Describes the current condition of the industry and forecasts where the industry is moving in the next three to five years Target Market = Describes who a business is providing services for Focus Groups = Soliciting individuals to consume a product and provide proactive feedback Survey = Questionnaire asking various questions about people’s interest in a product

Organizational Structure = Clear managerial structure for each function of the business Hierarchical Structure = Organizational structure in which business functions are subordinate to the other Learning Based Structure = An organizational structure that emphasizes learning and adaptation

<p>Market Analysis</p> Signup and view all the answers

<p>To describe the purpose of the organization</p> Signup and view all the answers

<p>Statements of what needs to be achieved</p> Signup and view all the answers

<p>The group of people a business is providing services for</p> Signup and view all the answers

<p>A clear managerial structure for each function of the business</p> Signup and view all the answers