ACC1200 Lecture Notes - Lecture 7: Business Plan
Document Summary
Business plan a written document that explains or analyses an existing or proposed business venture. Provides direction for and clarity of the goals and strategy. Cannot eliminate uncertainty: not possible to accurately predict the future. May use inaccurate, biased or out-dated information. Integrate operations, and financial and marketing aspects of the business. Encourages owners to full research their business idea. Provides a clear statement of direction and purpose for a firm. Components: executive summary, background (owner, operating history, goals, marketing, operations and production (legal requirement, organisational structure, assets, financial projection (estimation, appendices. Vision, strategy, managed across finance, customer, internal processes and knowledge and growth. How do create value for our shareholders. How well business is running, what should we be best at. Improving skills in positive way could improve staff and customer satisfaction, making them more efficient and effective, customer experience improved, cost effective, positive financial performance.
