Анлиский. Give the definition of a business plan. What sections does it usually include
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Unit 6 Give the definition of a business plan. What sections does it usually include? What sections are the most/least important and why? What Is a Business Plan? A business plan is a written document that describes in detail how a business—usually a startup—defines its objectives and how it is to go about achieving its goals. A business plan lays out a written roadmap for the firm from marketing, financial, and operational standpoints. Business plans are important documents used for the external audience as well as the internal audience of the company. For instance, a business plan is used to attract investment before a company has established a proven track record or to secure lending. They are also a good way for companies' executive teams to be on the same page about strategic action items and to keep themselves on target towards the set goals. What sources of funding do you know? Speak about equity funding, investors and debt funding. What is meant by ‘exit strat egy’? Companies always seek sources of funding to grow the business. Funding, also called financing, represents an act of contributing resources to finance a program, project, or a need. Funding can be initiated for either short-term or long-term purposes. The different sources of funding include: Retained earnings Debt capital Equity capital Strategic exit refers to a well-thought-out business plan. He must leave the business when circumstances arise on more favorable terms with the maximum capitalization of the initial investment. It includes a list of activities for the return of invested funds. When planning this strategy, you need to focus on the results of the business assessment and personal factors. There are several known effective ways to exit the commercial sphere. What is entrepreneur and entrepreneurship? Give a detailed definition and meaning. What is the key stage in becoming a successful entrepreneur? Speak about the usual risks of this profession and qualities required for it. 3. Что такое предпринимательство и предпринимательство? Дайте подробное определение и значение. Что является ключевым этапом в становлении успешным предпринимателем? Расскажите об обычных рисках этой профессии и необходимых для этого качествах. An entrepreneur is an individual who creates a new business, bearing most of the risks and enjoying most of the rewards. The process of setting up a business is known as entrepreneurship. The entrepreneur is commonly seen as an innovator, a source of new ideas, goods, services, and business/or procedures. Entrepreneurs play a key role in any economy, using the skills and initiative necessary to anticipate needs and bringing good new ideas to market. Entrepreneurship that proves to be successful in taking on the risks of creating a startup is rewarded with profits, fame, and continued growth opportunities. Entrepreneurship that fails results in losses and less prevalence in the markets for those involved. Speak about young and successful entrepreneurs you know. What have you learnt about Traveloka company and their style of doing business? How does the company make money and what speaks for the success of their business? What is the current trend for the start- ups in the modern world? Расскажите о молодых и успешных предпринимателях, которых вы знаете. Что вы узнали о компании Traveloka и их стиле ведения бизнеса? Как компания зарабатывает деньги и что говорит об успехе их бизнеса? Какова текущая тенденция развития стартапов в современном мире? Of course, Mark Zuckerberg must be on the top of this list. Facebook speaks for all the success the man has achieved by launching it when he was only 19 years old. Within few years of its launch, Facebook became one of the most used social media platforms across the world. Today, Facebook continues to grow and employ thousands of people. An inspiration to a countless number of people, Zuckerberg [2] is estimated to be worth 61.7 billion USD today and continues to progress as an entrepreneur. Remote working . Robotic delivery Virtual and telehealth care Startups using 5G — Smart cities, autonomous ships Online education 5.What do you need to know about influencing people while trying to do business? Speak about push and pull influencing styles. What are the advantages and disadvantages of each style and what is the best approach to communicate successfully in business? Which of the two collaborative styles do you prefer when working with others and why? What are the advantages and disadvantages of your own personal style? Что вам нужно знать о влиянии на людей при ведении бизнеса? Поговорите о стилях, влияющих на толчок и притяжение. Каковы преимущества и недостатки каждого стиля и как лучше всего вести успешное деловое общение? Какой из двух стилей сотрудничества вы предпочитаете при работе с другими и почему? В чем преимущества и недостатки вашего личного стиля? Influence is the ability to persuade someone to think or act in the way you want. This ability is an essential part of leadership Business communication is a type of interaction between people in their professional activities. Business communication always has a specific goal that the interlocutors achieve during the conversation. In addition, in such communication there is an exchange of information, knowledge, experience. What types of assets and liabilities do you know? What company’s document gives a picture of its assets and liabilities? What information is involved in company’s annual report? Give a brief description of the work of accountancy firms. Какие типы активов и пассивов вам известны? В каком документе компании представлена картина ее активов и пассивов? Какая информация содержится в годовом отчете компании? Дайте краткое описание работы бухгалтерских фирм. Assets are the property of the enterprise (property and non-property), which it disposes in the course of carrying out activities to make a profit. Liabilities are the sources of assets. An accounting firm is an organized structure with a fixed schedule of work and employees. 7.What are the two main ways of raising capital in business? Explain the difference between highly leveraged and overleveraged companies? Каковы два основных способа привлечения капитала в бизнес? Объясните разницу между компаниями с высокой и избыточной заемными средствами? There are two types of capital that a company can use to fund operations: debt and equity. Prudent corporate finance practice involves determining the mix of debt and equity that is most cost-effective The less leveraged company may be in a better position to cut revenue because they don't have the same expensive ... that it borrowed. 8.Explain the meaning of the phrase: “sitting on a cash pile”. What are the ways of recovering an ailing company? What certain legal steps should a company with a serious financial difficulty take? Accept Your Situation Take Inventory Define Your Goal Develop Your Plan Take Action Correct And Adjust 9.How to set up your own business? What do established entrepreneurs say about it and what advice do they give? Speak about the common points to focus on. Sir Richard Branson, one of the world’s most recognizable billionaires, and the founder of Virgin Group, has built an empire comprised of more than 400 companies including airlines, record stores, publishing organizations and he’s even tackling commercial space travel. He’s also the author of more than a dozen business books, including his latest (fantastic) autobiography, Finding My Virginity that shares from behind-the-scenes of the ups and downs throughout Branson’s more than fifty year career as an entrepreneur. During his interview on 30 Days of Genius with CreativeLive, I got to hear his best business advice for aspiring entrepreneurs who want to start a business of their own, first-hand: “The best businesses come from people’s bad personal experiences. If you just keep your eyes open, you’re going to find something that frustrates you, and then you think, ‘well I could maybe do it better than it’s being done,’ and there you have a business.” |