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Entrepreneurship Journey — Entrepreneurship STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEntrepreneurshipEntrepreneurship Journey5 Marks
Question
Explain in detail the elements of business plan.
✓

Answer

Proposed Business Plan
  1. General Introduction:
  1. Name and address of business.
  2. Name and address of entrepreneur.
  3. Stakeholder of business.
  4. Nature of business and customers.
  1. Business Venture:
  1. Product (s) to be offered.
  2. Service (s) to be offered.
  3. Scale of business operation.
  4. Type of technology used.
  5. Type of skilled personnel required.
  1. Organized Plan:
  1. Form of ownership, sole proprietorship, partnership or joint stock company.
  2. Identification of business, associated partners/ members etc..
  3. Administrative structure.
  4. Identification of management team.
  1. Production Plan:
  1. Details of manufacturing process.
  2. Physical infrastructure required.
  3. Types of plant and machinery.
  4. Raw materials to be used.
  5. Requirement of power, water etc.
  1. Human Resource Plan:
  1. Categories of human resources or staff required.
  2. Human resource already identified.
  3. Human resource required to be procured.
  4. Time frame for procurement of human resource.
  1. Marketing Plan:
  1. Products and services offered.
  2. Pricing policies.
  3. Promotional strategies.
  4. Logistics for distribution.
  5. Channels of distribution.
  1. Financial Plan:
  1. Breakeven analysis.
  2. Fixed capital requirements.
  3. Working capital requirement.
  4. Sources of capital.
  5. Schedule of procurement of capital.
  6. Schedule of procurement of asset.
  7. Cash flow projection.
  1. Miscellaneous/ Appendix:
  1. Market research report.
  2. Contract with venders.
  3. Contract with financial institutions.
  4. Type of business risk.
  5. Contingency plan.

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