Week 7 (KET120040)

Week 7 !!

Time flies ! It's already week 7 !! Let's see what we learned this week ^.^

Business Plan
This week class is about
1) What is business plan?
2) Important of business plan
3) Guidance to prepare a business plan

1) What is business plan?
It is a written document that explain a business which must consists of
(a) analysis
(b) forecast
(c) expectation
(d) strategy

2) Important of business plan
(a) others can evaluate the business objectively and critically
(b) show the validation of the business
(c) find out the requirement resource for the business
(d) realize the future problem

3)Guidance

Format

(a)Title of front page

• Title 
• Name & address of business
• Writer's name
• Date prepared

(b) Table of content
(c) Executive Summary

• Briefly explain main elements of the business

(d) Structure of Business plan
(e) Appendices

Structure of business plan
(a) Introduction

• Name of business
• addressed to whom
• Sole-proprietorship or partnership
• personal detail

(b) Purpose
(c) Business background

• General information
• industrial information

(d) Marketing

• Product/service information
• marketing information
• Price
• Promotion
• Distribution
• Competition
• Management
• Operation

(e) Finance

• modal
• source
• investment
• distribution

I have realized that business plan is important and necessary in preparation of a business. A good business plan can reduce risk of a business. Beside that, it can give a better view in finding out future problems that may exists during the business. It is quite a mandatory for a business start with a business plan.

We did the business plan during the preparation of our business. The content is important because it keep us on our right business track. The knowledge not only applicable in business wise but also useful in my daily life planning.

Seet Cheng Hou (KET120040)