Entrep Unit III

Fixed Capital Investment

Assets needed by the business for it to operate and do business

Goals

broad long-term desires that an organization seeks to accomplish

Preliminary Analysis, Market Assessment, Organizational, Financial Aspect

Steps to a feasible study

Working Capital

To keep the business going for the first few cycles of operation

Industry

is the general name for the line of product or service being sold or the firms in that line of business

Partnerships

2 or more people who co- own the entity for making money

Business Plan

A document designed to detail the major characteristics of a firm.

Target market

A specific group of people you have decided to target with your products or services

Pre-operating Expenses

Cash expenses that the business incurs prior to the actual start of operations

Waste disposal

Description and type of waste to be disposed

Socio-economic Plan

Determine what are the social, economic and environmental implications of the study

Funding startup enterprises. Attracting investors. Entrepreneur's blueprint. Constant motivator

Importance of business plan

Possible

Involves the availability of skills, technology, hardware and infrastructure to set up the business.

Production plan & sales forecast

Projected scale of production. Where the input requirement will depend on the production schedule and size.

Packaging and labeling

consider the materials needed, designs availability of suppliers. specifications and sustainability to the product

Mission

declares the company's purpose for being and what it aims to accomplish as an enterprise

Product

description of the product/service or product mix

Price

determine price levels

Policies

establish the rules of conduct for a company. They not only describe the responsibilities for the employer and the employees, they also create a frame of reference for handling the countless issues that arise in an organization.

Cooperative

formed by at least 15 members working together to achieve social and economic goals

Corporation

formed by at least 5 parties; considered a "legal person" which allows it to conduct business acts that a natural person can do

Liabilities

how much it owes other entities

Place/Distribution

how to distribute the products

For services,

identify the appropriate procedure in delivering the right services to the target customers and present a service process flowchart

Objectives

more specific targets of performance that everyone undertakes to accomplish the goals

Owner's Equity

net worth of the business; represents the excess of all assets of the business over all liabilities

Matrix

organization is divided and aligned in such a way that same-skilled people are pooled together in a group reporting to a group manager

Hierarchical

organization is divided and aligned into different levels where the line of command moves downwards from the top level to the next lower level down to the bottom

Single Proprietorship

owned and manage by one individual

For processing or manufacturing of food and non-food products

prepare a flowchart or flow of diagram to detail the step-by-step manufacturing process

Materials checklist and other supplies

present a detailed breakdown using a checklist in a tabulated format specifying the description and specification, quantity, unit cost, total amount and sources

Income Statement or Profit and Loss Statement

shows the profitability of the business during the period covered by the statement

Assets

shows what the business owns

Vision

states what the organization is and what it stands for what the business is all about and what the values of the business are

Feasible

the extent to which an idea is viable and realistic and the extent to which you are aware of internal (to your business) and external (industry, market and regulatory environment) forces that could affect your business.

Flat or horizontal

there are few or no levels; managers and workers; for small/individual unit organizations

Market potentials

whether or not the business can sell its products and services

Technical feasibility

whether or not the enterprise can produce what it intends to sell and at what cost.

Financial viability

which estimates how much is needed to start the business and when can it make money.

Statement of Cash Flows

presents how the changes in the balance sheet and income statement accounts affect the company's cash balance

Balance Sheet

presents the financial position of a company at a specified date

Promotion

promotional activities

Unique Selling Proposition (USP)

refers to the proposed business' competitive advantage what sets it apart from the competition