4TH WQ 1 Preparation

• What is a business plan?

  A guide on initiating and running a business
• What are the main components of a business plan roadmap?

  1. Purpose
  2. Goal
  3. How to achieve the goals
• What is one advantage of having a business plan?

  It helps set realistic objectives
• How does a business plan aid in decision making?

  It allows for informed answers to arise
• What does a business plan help to fix?

  Past mistakes and lessons learned
• How does a business plan prepare you for competition?

  Through competitive analysis
• What are the essential components of a business plan?


  1. Executive Summary - overview of the business plan
  2. Company Overview - (1) History of the Company (2) Company's description
  3. Analysis - (1) Industry Analysis (2) Positioning Statement (3) Customer Analysis
  4. Competitive Analysis - Comparison and contrast of your competitors
• What does the executive summary provide in a business plan?

  An overview of the business plan
• What two aspects are included in the company overview?

  History and description of the company
• What types of analysis are included in the business plan analysis component?

  1. Industry Analysis
  2. Positioning Statement
  3. Customer Analysis
• What is the purpose of competitive analysis in a business plan?

  To compare and contrast competitors
• What does the marketing plan industry cover?

  How to market and sell products
• What does the production plan describe?

  How production processes will be executed
• What are the steps included in the operations plan?

  • Production
  • Packaging
  • Distribution
• What is the focus of the management plan?

  Daily operations management group
• What are some items included in the appendices of a business plan?

  1. Organizational Chart
  2. Photograph of the Product
  3. Vicinity Map
• Marketing Plan Industry

  1. Production plan
  2. Operations plan
  3. Management plan
• Marketing Plan Industry

  Covers the specifics of how you plan to market and sell your products