Preparing Effective Business Plans: An Entrepreneurial Approach / Edition 1

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Welcome to the Entrepreneurial Revolution. In this time of rapid change and amazing opportunity, the Prentice Hall Entrepreneurship Series has been created to provide direction, guidance, and insight to faculty members and students interested in pursuing an entrepreneurial path. This evolving series features top scholars in the field sharing their perspectives on the most critical issues and challenges in the emerging field of entrepreneurship. The books in the series are purposely designed to emphasize flexibility and innovation in the entrepreneurship curriculum and classroom. As a central theme, entrepreneurship is approached as a way of thinking and acting that can be applied in all walks of life. The series addresses both the contexts for (e.g., start-up firms, family businesses, high growth ventures, non-profits, corporations, the public sector) and the facilitators of entrepreneurship (e.g., creativity, planning, opportunity recognition, resources, networks, teams). The series has been developed and will continually evolve to present readers with a range of state-of-the-art perspectives that speak to individual aspects of entrepreneurship. We hope you enjoy your entrepreneurial journey!
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Product Details

  • ISBN-13: 9780132318327
  • Publisher: Prentice Hall
  • Publication date: 1/16/2008
  • Series: Entrepreneurship Series
  • Edition description: Older Edition
  • Edition number: 1
  • Pages: 288
  • Product dimensions: 5.90 (w) x 8.80 (h) x 0.60 (d)

Table of Contents

Preface     xiii
About the Author     xvii
Starting the Process     1
Why Plan?     1
Introduction     1
Reasons for Writing a Business Plan     2
Who Reads the Business Plan and What Are They Looking For?     6
Guidelines for Writing a Business Plan     8
Types of Businesses     13
The Plan for the Book     14
Chapter Summary     17
Review Questions     18
Application Questions     19
Endnotes     20
What to do Before the Business Plan is Written     21
Developing and Screening Business Ideas     21
Introduction     21
Three Most Common Sources of New Business Ideas     22
Changing Environmental Trends     23
Technological Advances     26
Political Action and Regulatory Changes     26
Unsolved Problems     27
Gaps in the Marketplace     28
Techniques for Generating Ideas     32
Brainstorming     32
Focus Groups     33
Library and Internet Research     34
First Screen     35
Strength of the Business Idea     36
Industry-Related Issues     37
Market- and Customer-Related Issues     38
Founder- (or Founders-) Related Issues     39
Financial Issues     40
Chapter Summary     41
Review Questions     42
Application Questions     42
Endnotes     43
First Screen     44
Internet Resource Table     48
Feasibility Analysis     53
Introduction     53
Template for Completing a Feasibility Analysis     54
Product/Service Feasibility     56
Industry/Target Market Feasibility Analysis     60
Organizational Feasibility Analysis     63
Financial Feasibility Analysis     65
Chapter Summary     67
Review Questions     68
Application Questions     68
Endnotes     69
Full Feasibility Analysis     70
Preparing a Business Plan     81
Introductory Material, Executive Summary, and Description of the Business     81
Introduction     81
Cover Page and Table of Contents     82
Cover Page     82
Table of Contents     83
Executive Summary      83
Format     83
Content     87
Company Description     88
Company History     91
Mission Statement     92
Products and Services     93
Current Status     94
Legal Status and Ownership     95
Selecting the Name for a Business     96
Primary Consideration in Naming a Business     96
Legal Issues     97
Chapter Summary     98
Review Questions     98
Application Questions     99
Endnotes     100
Industry Analysis     101
Introduction     101
Industry Definition     103
Industry Size, Growth Rate, and Sales Projections     104
Industry Size     105
Industry Growth Rate     107
Industry Sales Projections     109
Industry Characteristics     109
Industry Structure     109
Nature of Participants     113
Ratios     114
Key Success Factors     114
Industry Trends     115
Environmental Trends     116
Business Trends     118
Long-Term Prospects      118
How the Industry Analysis Affects and Is Affected by Other Sections of the Plan     119
Chapter Summary     120
Review Questions     120
Application Questions     121
Endnotes     122
Market Analysis     123
Introduction     123
Market Segmentation and Target Market Selection     124
Market Segmentation     127
Selecting a Target Market     128
Target Market Size and Trends     129
Buyer Behavior     133
Competior Analysis     134
Identification of Direct, Indirect, and Future Competitors     134
Competitive Analysis Grid     138
Preparing the Content of an Effective Business Plan Presentation     239
Sample Business Plan Presentation     240
Chapter Summary     253
Review Questions     254
Application Questions     255
Endnotes     255
Name Index     257
Subject Index     259
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