Entrepreneurship Development BUS-304

Business Plan
Abu Taher Khan
Director
Career Development Center (CDC)

Daffodil International University

(DIU)
Innovation and Incubation Centre (IIC), DIU
www.daffodilvarsity.edu.bd
 What is Business Plan?

 Physical and financial estimation and

assessment of a venture to run it with
reasonable profit margin.

 Business Plan (BP) also includes the structure

and physical location of the venture.
 Who Should Write the Business
Plan?
 Business Plan will be prepared by an entrepreneur
himself/herself. But he can take the help of other
technical person(s) or subject matter specialist(s).

 A Business Plan should not be the similar copy of

another Business Plan. Because every business has
its own merits or demerits.
 Scope and Value of Business Plan
 A Business Plan must includes the issues like
resource mobilization, production, manpower,
marketing etc.

 Business Plan indicates the feasibility and

potentiality of a particular business.

 A Business Plan gives the right direction to run

a business with proper efficiency.
 Develop and Using a Business Plan
 Generally a format with basic information is
followed to prepare a Business Plan (format
supplied earlier)

 A Business Plan is used by an entrepreneur

himself/herself as well as by the loan giving
banks and concerned regulatory and
promotional bodies.
 Information Required to Prepare a
Business Plan
1. Primary information may be collected through
conducting studies/survey.

2. Secondary information may be collected from

different books, reports, records and documents.

3. Data and information used in other Business

Plans
 Different Parts of Business Plan
1. Physical Part
2. Financial Part
3. Technical & Technological Part
4. Human Resource Part
5. Production and QA/QC Part
6. Marketing Part
7. Accounting and Audit Part
8. Inventory and Recordkeeping Part
9. Assessment and Analytical Part
10.Recommendation/Controlling Part
Using and Implementation of Business
Plan
 A Business Plan is used to monitor the activities
during its implementation.

 It is used as a record of programs to be

implemented under the venture/organization.

 Business Plan is also used for post implementation

evaluation and assessment.
 Why Some Business Plan Fail?
1. A Business Plan fails when it is prepared based on
wrong, biased and incomplete information.
2. When secondary data and information are used more
rather than the primary data.
3. When the data and information are backdated.
4. When assumptions are not done or identified properly.
5. When related state policies fluctuates rapidly or
frequently
6. Due to political, social and economic unrest within the
country.
7. Global recession concerned to business industry and
economy.
8. Natural and climatic disaster.
 How to Face the Risks of Failure
1. Taking all sorts of probable precautionary measures
regarding data and information.

2. Taking sufficient care and utilization of professional

efficiency in assessing and analyzing the data and
information.

3. Ensure proper supervision and monitoring during the

implementation of a Business Plan.

4. Maintaining of proper records without any fabrications or

errors.