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Economic and management sciences

Grade 9

Entrepreneurship

Module 13

Develop a business plan and budget

Activity:

To turn a business idea into a business plan

[lo 4.4]

Once the business idea has passed the viability test it must be developed into a business plan.

A business plan is a core document in terms of which a business is managed.

Business plans can be set out in a variety of ways. The following framework was based on a business plan of a company that has been using it for the past few years. It has been tested in practice.

BUSINESS PLAN

1. Vision of the enterprise

The vision of an enterprise says in a few words how the enterprise would like to see itself now as well as in the medium to long term. It does not change much from one year to the next.

Example:

To be the leading supplier of garden services in the Ermelo urban area.

2. Mission

The mission briefly states how the enterprise will go about pursuing its vision. The mission is adapted according to the changes that take place both within and outside the enterprise, and can therefore change from one year to the next.

Example:

Gardens are kept weed-free and neat and the soil is cultivated to increase fertility.

3. Organogram

The organogram explains the structure of an organisation in terms of the functions and employees, and it indicates who reports to whom.

4. The market

4.1 Potential clients

It is important to give as much information as possible about potential clients. Market research is essential. It can be done by way of questionnaires, interviews and telephone calls, as well as by studying the newspapers and any documents that contain information about the community.

4.2 Competitors

It is essential to have information about competitors. There should be an indication of who the competitors are and what their strengths are, but more importantly what their weaknesses are, what people say about them, exactly what they sell and what their marketing strategies are.

5. Goals for the year in question (in this case 2004)

A business always sets specific goals that it wants to achieve in a particular year.

Example:

5.1 To be contracted by 200 home owners for the care of their gardens

5.2 To reach sales of R980 000,00

  • To achieve a profit equal to 20% of the sales

6. Steps in pursuing the goals in the particular year

For each of the goals there will be an indication of what is to be done to achieve the goal.

Example:

6.1 Goals 5.1 and 5.2 will be achieved by

tailoring the product or service to the needs of the clients,

pricing it right,

advertising in the newspaper,

making personal visits to all the homes in the area,

giving excellent service to existing clients so that they advertise the undertaking, and offering a 20% discount on the normal price.

6.2 Goal 5.3 will be achieved by

cutting out unnecessary expenses, etc.

A little more about marketing:

  • Pursuing business goals without effective marketing is not possible and therefore marketing should get a great deal of attention in this part of the business plan. It is often said that it is easier to sell a poor product if the marketing is good, than to sell a good product if the marketing is poor.
  • As far as the marketing of a business is concerned, two phases can be distinguished:

Questions & Answers

An investment account was opened with an initial deposit of $9,600 and earns 7.4% interest, compounded continuously. How much will the account be worth after 15 years?
Kala Reply
lim x to infinity e^1-e^-1/log(1+x)
given eccentricity and a point find the equiation
Moses Reply
12, 17, 22.... 25th term
Alexandra Reply
12, 17, 22.... 25th term
Akash
College algebra is really hard?
Shirleen Reply
Absolutely, for me. My problems with math started in First grade...involving a nun Sister Anastasia, bad vision, talking & getting expelled from Catholic school. When it comes to math I just can't focus and all I can hear is our family silverware banging and clanging on the pink Formica table.
Carole
I'm 13 and I understand it great
AJ
I am 1 year old but I can do it! 1+1=2 proof very hard for me though.
Atone
hi
Adu
Not really they are just easy concepts which can be understood if you have great basics. I am 14 I understood them easily.
Vedant
find the 15th term of the geometric sequince whose first is 18 and last term of 387
Jerwin Reply
I know this work
salma
The given of f(x=x-2. then what is the value of this f(3) 5f(x+1)
virgelyn Reply
hmm well what is the answer
Abhi
how do they get the third part x = (32)5/4
kinnecy Reply
make 5/4 into a mixed number, make that a decimal, and then multiply 32 by the decimal 5/4 turns out to be
AJ
can someone help me with some logarithmic and exponential equations.
Jeffrey Reply
sure. what is your question?
ninjadapaul
20/(×-6^2)
Salomon
okay, so you have 6 raised to the power of 2. what is that part of your answer
ninjadapaul
I don't understand what the A with approx sign and the boxed x mean
ninjadapaul
it think it's written 20/(X-6)^2 so it's 20 divided by X-6 squared
Salomon
I'm not sure why it wrote it the other way
Salomon
I got X =-6
Salomon
ok. so take the square root of both sides, now you have plus or minus the square root of 20= x-6
ninjadapaul
oops. ignore that.
ninjadapaul
so you not have an equal sign anywhere in the original equation?
ninjadapaul
hmm
Abhi
is it a question of log
Abhi
🤔.
Abhi
I rally confuse this number And equations too I need exactly help
salma
But this is not salma it's Faiza live in lousvile Ky I garbage this so I am going collage with JCTC that the of the collage thank you my friends
salma
Commplementary angles
Idrissa Reply
hello
Sherica
im all ears I need to learn
Sherica
right! what he said ⤴⤴⤴
Tamia
hii
Uday
hi
salma
hi
Ayuba
Hello
opoku
hi
Ali
greetings from Iran
Ali
salut. from Algeria
Bach
hi
Nharnhar
what is a good calculator for all algebra; would a Casio fx 260 work with all algebra equations? please name the cheapest, thanks.
Kevin Reply
a perfect square v²+2v+_
Dearan Reply
kkk nice
Abdirahman Reply
algebra 2 Inequalities:If equation 2 = 0 it is an open set?
Kim Reply
or infinite solutions?
Kim
The answer is neither. The function, 2 = 0 cannot exist. Hence, the function is undefined.
Al
y=10×
Embra Reply
Jeannette has $5 and $10 bills in her wallet. The number of fives is three more than six times the number of tens. Let t represent the number of tens. Write an expression for the number of fives.
August Reply
What is the expressiin for seven less than four times the number of nickels
Leonardo Reply
How do i figure this problem out.
how do you translate this in Algebraic Expressions
linda Reply
why surface tension is zero at critical temperature
Shanjida
I think if critical temperature denote high temperature then a liquid stats boils that time the water stats to evaporate so some moles of h2o to up and due to high temp the bonding break they have low density so it can be a reason
s.
Need to simplify the expresin. 3/7 (x+y)-1/7 (x-1)=
Crystal Reply
. After 3 months on a diet, Lisa had lost 12% of her original weight. She lost 21 pounds. What was Lisa's original weight?
Chris Reply
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Source:  OpenStax, Economic and management sciences grade 9. OpenStax CNX. Sep 15, 2009 Download for free at http://cnx.org/content/col11074/1.1
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