Accounting and Finance Foundations

Unit 12

Accounting and Finance Foundations Unit 12: Budgeting and Business Plans 946

Student Assignment

Budgeting and Business Plans

Lesson 29.3 Business Plan Helper

Directions: Access the ODU Entrepreneurial Center Business Plan Helper at

http://www.hrtc.org/attachments/files/301/ODUBusinessPlanHelper.pdf. Read the business plan

outline, and then use it to answer each of the following questions. Use a separate sheet of paper to

record your responses.

I. Business Plan—Overview

1. What are two purposes of a written business plan?


2. Writing a business plan forces __ and __ into the business.


3. The business plan establishes concrete __ and __, with general parameters
   to guide the organization.


4. The business plan provides a basis for communicating the company’s message—internally to
   __ and externally to __.


5. How does a written business plan serve as a map for the company?


6. According to the outline, a business plan should be a “living” document. What does that mean?

II. Key Initial Questions

7. What are five basic questions that you should ask yourself when preparing to write a business plan?

III. Create an Outline, Feasibility Study, or Abbreviated Plan

8. Why should you identify your key personnel in your business plan?


9. Why should you include monthly cash-flow projections in your business plan?

IV. Organization of a Full Written Plan

10. What are five sections that you should include in your market analysis?


11. What four topics should you address in your description of your product and/or services?


12. In the operations section, you should explain your production and/or service delivery.
    What information should you include in this part of your business plan?

Chapter 29