6–2 © 2012 Cengage Learning. All Rights Reserved.
Author : natalia-silvester | Published Date : 2025-06-23
Description: 62 2012 Cengage Learning All Rights Reserved May not be copied scanned or duplicated in whole or in part except for use as permitted in a license distributed with a certain product or service or otherwise on a passwordprotected
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Transcript:6–2 © 2012 Cengage Learning. All Rights Reserved.:
6–2 © 2012 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. After studying this chapter, you should be able to… Explain the purpose and objectives of business plans. Give the rationale for writing (or not writing) a business plan when starting a new venture. Describe the preferred content and format for a business plan. Offer practical advice on writing a business plan. 6–3 © 2012 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. After studying this chapter, you should be able to… Explain the concept and process for developing a firm’s business plan. Identify available sources of assistance in preparing a business plan. Maintain the proper perspective when writing a business plan. An Overview of the Business Plan Business Plan A document that sets out the basic idea underlying a business and related startup considerations The Purpose of a Business Plan Identifies the nature and context of the business opportunity Presents the entrepreneur’s approach to exploiting the opportunity Identifies factors affecting the venture’s success Serves as the entrepreneur’s tool for raising capital 6–4 © 2012 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 6–5 © 2012 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. EXHIBIT 6.1 Users of Business Plans The Need for a Business Plan Primary Functions To provide a clearly articulated statement of goals and strategies for internal use Imposes discipline on the entrepreneur and management team To serve as a selling document to be shared with outsiders Provides a credible overview for prospective customers, suppliers, and investors Helps secure favorable credit terms from suppliers Opens approaches to lenders and other sources of financing 6–6 ©
