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6 Cards in this Set
- Front
- Back
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What is a business plan:
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A plan a business has for its future
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How do you determine the purpose of the business plan?
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Ask:
UTILITY -What is “success”? -How much does the business need a successful outcome? REFLEXIVITY -Will it be read (and which bit[s])? -Who will read it (individuals)? -Who is it for (organisation)? INFO-GAP -What advice do I need to seek to achieve these outcomes? |
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Reflexive functions of a business plan?
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Ask is it for:
-internal or external use? -R&D funding? -Raising capital? -Attracting directors & executives? -A business alliance? -M&A? Something else? |
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What is the structure/core elements of the business plan?
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Victorian Government Template:
-Business Overview -Products/Services -Market Analysis -Competition (incl. competitive advantage) -Marketing Strategy -Business Structure & Management -Finances (incl. financial forecasts) -Action Plan (incl. activities) -Appendices Additionally, risk management (not on the Vic Gov template) |
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Can documentation defend the elements of the business plan?
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Yes:
Market research reports, IP Strategy, including patent reviews & analysis, Product development plan, Commercialisation strategy, Financial model & cash management strategy, Financial statements, Expert opinions (pref. independent), Business analysis, Government / industry reports and analysis |
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What are business ''fundamentals''?
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Business fundamentals may refer to the building blocks of the business.
It is sometimes reduced to: -Solid IP position and demonstrable competitive advantage -Sound technology platform and development strategy -Sound business and financial strategy -The right people |
