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SBE 2.02 Business Plan & 11.0 Management

STUDY
PLAY
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.