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1.01 Key Terms

Nature Of Business Plans

QuestionAnswer
Accounting The Process of keeping and interpreting financial record.
Appendix A segment added to the end of a document; includes supporting information.
Balance Sheet A financial statement that captures the financial condition of the business at that particular moment.
Barrier to ( Market) entry Anything that blocks the way or makes it more difficult to enter a particular market.
Bottom Line Net outcome.
Business Plan A company's blueprint for success; shows how the business works now and how it is intended to work in the future; the written business model.
Business Structure A company's configuration of employees for accomplishing specific business tasks; how the business is organized.
Capital Investment The amount of money the business has invested in its goods and other property.
Capital Structure The organization of the influx and outflow of the company's money, including where the money goes on a regular basis; how a business pays for its operations.
Cash Flow The movement of funds into and out of the business; determines the amount of cash the business has to work with at any given time.
Cost Estimate A ball park figure (or guess) of how much will be spent on a given activity.
Equity Assets minus liabilities; also known stockholders' (or shareholders) equity, book value, and net worth.
Executive Summary The most important part of a company's business plan because it gives an overview of the entire document; used to determine whether it is worthwhile to read any further.
Finance The process of obtaining funds and using them to achieve the goals of the business.`
Financial Plans The part of a company's business plan that shows how the business has performed (or is likely to perform) financially intends to use its money.
Financial Resources All the sources of money available to a business or project .
Financial Costs Funding a business activity or project through debt, equity, or venture capital.
Fixed Assets Items of value a business owns that are not expected to change, e.g., buildings.
Funding Money available to a business from one or more sources.
Human Resources People who work to produce goods and services.
Income Statements A financial summary that shows how much money the business has made or has lost over a period of time; also called the profit and loss Statements.
Letter of Intent A document communicating what a person or business intends to do within (or during) a specific time frame.
Liabilities Responsabilities of the business, especially legal responsibilities.
Life Cycle The stages through which goods and services move from the time they are introduced on the market until they are taken off the market.
Management The process of coordinating resources in order to accomplish an organizations goals.
Market Analysis A systematic study of the market.
Market Position The rank of a particular business in a specific market.
Marketing An organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customers relations in ways that benefit the organizations and its stakeholders.
Marketing Plan A set of procedures or strategies for attracting the target customers to a business.
Niche The small segment of the total market interested in a subject.
Operations The day to day activities required for continued business functioning.
Physical Resources Material Items used to accomplish another activity.
Product The good, service or idea a business offers its customers.
Product Development The efforts involved in the creation of a new product.
Product Promotion A type of promotion that aims to persuade consumers to buy a good or service.
Profit Monetary reward a business owner receives for taking the risk involved in investing in a business; income left once all expenses are paid.
Resources Any item that is used to accomplish another activity, such as producing/providing goods and services.
Return on Equity Financial Ratio calculated by dividing net income by book value .
Return on Investment Financial Ration calculated by dividing net profit by investments.
Risk Management Plan A business document that involves the planning, controlling, preventing, and procedures involved in limiting business losses; optimizes the relationship of potential loss to gain.
Royalties A percentage of actual sales that a licensee pays to a licensor; usually anywhere from 5 to 15 percent.
Sales Volume The amount of a firm's sales; usually expressed in dollars.
Strategic Plan Long-Range plan for the company's as a whole; usually three to five years out.
Strategy Plan of action for achieving goals and objectives.
Table of Content The portion of a document in which the sections are listed with their page numbers for easy access.
Target Market The particular group of customers a business seeks to attract.
Third Party Agreement Legal or financial arrangements in which two companies do business through ( or this) a third company.
Venture A business or business project, usually new.
Business Model The company's method or plan for making money
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