At the end of the week, the students are able to:
1. Identify the market problem to be solved or the market
need to be met; and
2. Propose solution/s in terms of product/s and service/s
that will meet the need using techniques on seeking,
screening, and seizing opportunities:
3. Screen the proposed solution/s based on viability,
profitability, and customer requirements; and
4. Select the best product or service that will meet the
market need.
Entrepreneurs who plan to enter any business endeavor
must have a business plan on hand to guide them
throughout the process. Different business plan are
prepared for different purposes.
There are business plans written prior to setting up an
enterprise, which are similar to a prefeasibility study and a
feasibility study.
There are business plans that are written during the first
few years of the enterprise in order to guide the
entrepreneur on which strategies would be most beneficial
for the enterprise to take.
FORMAT FOR BUSINESS PLAN
I. INTRODUCTION
A. The Business Concept and the Business Model
B. The Business Goals: Vision, Mission, Objectives, and Performance Targets
C. The Business Offering and Justification
II. EXECUTIVE SUMMARY
III. The Business Proponents: Organizers with their Capabilities and Contributions
IV. The Target Customers and the Main Value Proposition to the Customer
V. The Market, Market Justification based on the Industry Dynamics and the
Macro Environmental Factors Affecting the Opportunities and Threats in the Market.
FORMAT FOR BUSINESS PLAN
VI. The Product and Service Offerings
VII. The Enterprise Strategy and Enterprise delivery Systems:
VIII. The Financial forecasts and Expected Returns, Risks, and
Contigencies
IX. Environmental and Regulatory Compliance
X. The Capital Structure and Financial Offering: Returns and Benefits
to Investors, Financiers
, and Business Partners
BUSINESS CONCEPT AND THE BUSINESS MODEL
A BUSINESS CONCEPT contains the essence of
the enterprise in a concise but powerful manner. It
stresses the value of the product offering to the
target customers who would most likely buy it.
.
BUSINESS CONCEPT AND THE BUSINESS MODEL
BUSINESS CONCEPT AND THE BUSINESS MODEL
A BUSINESS MODEL is a formula on how the
enterprise exactly plans to make money out of the
business.
BUSINESS CONCEPT AND THE BUSINESS MODEL
THE BUSINESS GOALS: VISION, MISSION, OBJECTIVES,
AND PERFORMANCE TARGETS
The business goals show the future and long-term prospects of the
enterprise. It is composed of the vision, mission, objectives, key result
areas, and performance indicators of the enterprise.
To illustrate, let us examine the vision of Double Happiness. Double
Happiness is an eatery in a bus terminal.it has three outlets located at
bus terminals in Central Luzon.
Case Example 1: Double Happiness
The Vision of Double Happiness is “to establish a commanding
presence and market leadership as a food chain servicing major
bus terminals in Central Luzon within the next five years.”
Its Mission statement is “to provide quality food and passenger
convenience services that would generate sufficient profits for
the stakeholders and improve the lives of its employees.”
The vision and the mission statements must then be translated
into measurable end results, more popularly called objectives
Objectives must be more specific than the vision and
mission statements. They should be measurable,
achievable, and time-bound.
1. To establish a strong market presence in Central Luzon;
2. To earn good financial returns to its owners;
3. To delight customers with high quality food and
services;and
4. To make Double Happiness a happy and rewarding place to
work in.
The executive summary contains everything that is relevant and
important to the business audience. It is a synthesis of the entire plan.
The executive summary should then introduce and highlight the good
qualities of;
1. The business proponents and their partners;
2. The enterprise organizations and its capabilities;
3. The technology providers and their expertise and experience; and
4. The suppliers and all the major service providers.
The third section of the business plan contains information about the
business proponents or stakeholders.
FOUR TYPES OF STAKEHOLDERS
1. Resource mobilizers and financial backers
2. Technology providers and applicators
3. Governance and top management
4. Operating and support team
Target Customers -must be of sufficient size, sufficient
paying capacity and have sufficient interest to purchase
the products being offered by the enterprise.
Knowing where the target costumers are exactly
concentrated, the business plan should then pinpoint
what the costumers buy,how they buy,when they
buy,where they buy, and what convinces them to buy.
The business plan should estimate the total market
supply and demand for the product offerings of the
enterprise. The business plan should then
determine the major critical factors that influence
this market demand and supply.
