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101 keyterms
nature of business plans
| Term | Definition |
|---|---|
| Accounting | The process of keeping and interpreting financial records |
| 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 model | The company's method or plan for making money |
| 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 | The company's configuration of employees for accomplishing specific business tasks; how the business is organized |
| 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 |
| capital Investment | the amount of money the business has invested in its goods and other property |
| cash flow | the movement of funds into and out a business; determines the amount of cash the business has to work with at any given moment |
| cost estimate | A ball-park figure (or guess) of how much will be spent on a given activity |
| Equity | Assets minus liabilities; also known as 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 plan | The part of a company's business plan that shows how the business has performed (or is likely to preform) financially; How a business intends to use its money |
| Financial resources | All the 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 tp change, e.g., building |
| Human resources | People who work to produce goods and services |
| income statement | A financial summary that shows how much money the business has n=made or has lost over a period of time; also called the profit-and-loss statement |
| letter of intent | a document communicating what a person or business intends to do with (during) a specific timeframe |
| liabilities | Responsibilities 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 systemic 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 customer relations in ways that benefit the organization and its stakeholders |
| marketing plan | a set of procedures or strategies for attracting the target customer 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 goof or service |
| profit | monetary reward a business owner receives for taking the risk involved 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 of equity | financial ratio calculated by dividing net income by book value |
| return on investment | financial ratio calculated by dividing net profit by investment |
| rick management plan | a business document that involves the planning, controlling, preventing, and procedures involved in limiting a 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 firms sales; usually expressed in dollars |
| strategic plan | long-range plan for the company as a whole; usually three to five years out |
| strategy | plan of action for achieving goals and objectives |
| tale of contents | 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 arrangement in which two companies do business through (or using) a third company |
| venture | a business or business project, usually new |
Created by:
chris2xk
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