Jonathon, a product manager at Polymath Electronics, has been assigned to lead a team that will develop a new product for the company's export market. He's considering using a business plan. What advice would you give him?

Question 2

Ursula is product manager at a major wireless communications company, has an idea for a new service offering. She knows she must develop a business plan in order to gain the support to implement her idea, but she's not sure how to begin. How should she begin preparing her plan?

Question 3

Your friend, who works for an airline, is writing a business plan to develop a new route to serve tourists from Southeast Asia. He wants to depart from the traditional business plan model by combining two sections, the competitive analysis and the industry background, and adding a section about the plan's logistics. What would you advise him about the changes he wants to make?

Question 4

You are preparing the executive summary of a business plan intended for venture capitalists and other potential investors in your company. Which should you omitfrom the executive summary?

Question 5

The management team of XYZ Engineering is writing a business plan to develop a new version of one of the company's patented products. The plan will be reviewed by the chief executive officer of XYZ's parent company. The team has written an executive summary that focuses on a vision of the opportunity, rather than a summary of the entire plan. What would you advise the XYZ management team about this approach to the executive summary?

Question 6

Sally is writing a business plan and asks your advice: "I want to define the business opportunity as I see it, in terms of the industry, the competitors, the market, and the customers in that market. But I don't know what section of the business plan to put it in." In which section would you tell Sally to place this information?

Question 7

Chen thinks his company can profitably export industrial flooring to Western European countries. In the Industry Background section of his business plan, he's covered the types of products and services produced by the industry, the industry size and shape, and industry trends. What important topic is missing from his industry background?

Question 8

The following statements are excerpts from a business plan designed to attract investment from a venture capital firm. Which of them does not belong in the competitive analysis?

Question 9

While reviewing a draft business plan submitted by the assistant manager of product development, you notice a problem. The market analysis section in your colleague's document contains the four parts listed below. Which one should he move from the market analysis and place into the marketing plan?

Question 10

The operations section of a business plan should present to the reader the critical success factors affecting how the company creates value. Which of these is considered the most important factor? Technological innovation.

Question 11

Your friend has been asked to write a management summary for a business plan, but he isn't sure what a management summary is. In a panic, he calls you for help. You explain that a management summary

Question 12

A business plan contains this statement: "Risden Associates intends to use the $250,000 raised for system development and programming (45 percent), marketing (35 percent), and purchase of new operating facility (20 percent)." In which section would you expect to find this statement?

Question 13

You are preparing a plan for the corporate investment committee of your company. They are comparing business plans for several internal projects in order to decide which ones the company should pursue in the coming year. When they look at the financial plan section of your proposal, what will interest them most?

Question 14

Jackson asks Calum to get a copy of the pro forma financial statements to complete the business plan. Calum e-mails you to say he is not sure what to look for. You respond that pro forma financial statements are statements of