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3 years ago

What is the best way to put together a business plan ?

1 answer:

7 0

The best way to put together a business plan is first to do a comprehensive research on the type of business you are going to set up and study the industry you would like to enter into. The business plan should consist of the following key elements:

1. Company overview that includes the company’s mission and vision, products or services, unique characteristic of the product and the business opportunities.

2. Study of the business environment that includes industry, market, competition and target market analysis

3. Company description that introduces the management team, technology used, operations, products or services and distribution

4. Company strategy which is the roadmap to achieving the company’s targets and goals

5. Financial review that shows the condition of the company that includes, the financial statements such as the balance sheet, income statement, cash flow statement and projections

6. Detailed action plan that is doable, realistic and can work within a specific time frame

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The firms in this industries have dis-economies of scale.

Explanation:

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The correct answer is (D)

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3 years ago

When working with international firms, u.s. businesses: select one:

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Try to avoid judging international business partners

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3 years ago

The accounts payable account is listed in the chart of accounts as an asset. True False

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Answer:

False

Explanation:

Payables are payment the business is expected to make. Money comes from the company and goes to third parties. Payables represent goods and services obtained from suppliers, but payments have not been made. They are debts that the business owes others.

Because payables are money that the business owes others, they are listed as liabilities. Liabilities are the debts that a business acquires as it engages in its regular activities. Assets are the items of value that a business own. Payables are not assets as they are financial obligations the company is expected to meet.

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3 years ago

When marketing managers attempt to identify "Key Success Factors" they typically are engaged in the _________________ component

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Answer:

The correct answer is letter "D": Industry analysis.

Explanation:

The strategic marketing planning process represents the set of steps companies take to advertise their products. The process could take five (5) steps which are planning the firm's mission, goals, and objectives; analyze the industry positioning; establishing marketing tactics; conducting the process; and, monitoring.

By analyzing the industry position, organizations conduct a SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis to find out the "Key Success Factors" and determine the inner and outer companies factors that could affect its performance.

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2 years ago