SBE 2.02 Business Plan & 11.0 Management
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Created by:
spencergriffith on April 11, 2011
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20 terms
Terms | Definitions |
|---|---|
 Executive summary | A brief description of the key points of the business plan. |
| Product/service plan | Presents the product or service you are offering. |
| Management team plan | Presents the qualifications of the entrepreneurs and any partners who may be involved in the business venture. |
| Industry/market analysis | Analyzes the customers, the competition, and the industry in addition to demographic, geographic, and economic data. |
| Operational plan | Includes all processes involved in producing and/or delivering the product or service to the customer, including product development and channels of distribution. |
| Organizational plan | Includes the legal form of the company, the management philosophy of the business, key management personnel, and key employment policies. |
| Marketing plan | Describes how the business will make its customers aware of its products or services, including the promotional plan, pricing strategy and company image. |
| Financial plan | Includes financial statements that will help forecast the future financial health of the business. |
| Growth plan | Presents plans for future expansion of the business. |
| Business plan | A proposal that describes a new business |
| Autocratic | Leadership style in which managers maintain total control of the business operation. |
| Controlling | Function of management which compares expected results with actual performance. |
| Democratic | Leadership style in which managers are open to new ideas and seek suggestions from employees. |
| Directing | Function of management that conveys plans, assignments, and instructions to employees. |
| Laissez-Faire | Leadership style in which managers use a "hands off" approach and allow employees to make their own decisions. |
| Operational | Short-term plans that include routine policies, rules, regulations and budgets for the day-to-day operation of the business. |
| Organizing | Function of management which gives structure to job tasks and duties. |
| Planning | First step in management which involves determining business objectives and how to reach desired results. |
| Strategic | Long-range plans that indicate goals 3 to 5 years ahead. |
| Tactical | Plans that focus on a period of one year or less. |
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