PLANNING A BUSINESS:

Identify and describe the steps

in preparing a business plan
QUARTER 3 WEEK 3-4
 Words to study
SCHEME – deals with the design of a
project
ADEQUATE – means enough supply of a
product
MANAGEMENT – involves the
administration of a business enterprise
 The following are the steps
which can help you in preparing
a business plan:
1. Make an evaluation of your personal resources, interest,
available raw materials and available specialized skills in the
community
Guide questions to help you evaluate your personal
resources:

1. Are you 3. Do you possess

interested in 2. Do you have management
the business? sufficient funds? skills?
4. Are raw 5. Does the 6. Do you have a
materials government give good personal
available? financial and relations with
technical assistance? other people?
 2. Conduct an analysis or survey of
your market

3. Is there a 4. Are the

2. What good customers
1. Who are product demand for interested in
your or service your the existing
customers will you product or product or
? offer? service? services?
 7. Could you
possibly offer
5. How 6. How
a better
many much is 8. Is there a
quality
your reasonable
competitors product or
estimated
are there in service at a profit?
share in the
the market? lower price?
market?
 3. Select a proper business location

3. Are facilities such

1. Is the location 2. Are there as electricity, water,
clean, decent customers in transportation and
and peaceful? the place? communication
available?
3. Select a proper business location

5. In case your first choice is not

4. Is the place accessible to raw
available, do you have a good
materials and other supplies?
alternative?
4. Make a financial plan

1. Determine your objective 2. How much money will you need?

 4. Make a financial plan

4. Does your budget determine how 5. How soon can you recover your
3. What are your sources of funds?
will you spend your money? investment?
5. Make a production plan

1. Determine whether to buy or

2. Will you improve the quality
lease the production
of an existing product
equipment
5. Make a production plan

3. Can your production scheme 4. Do you have a proper

meet market demand? scheduling of production?
6. Make an organizational plan

2. Are you acquainted with the

1. Find out what type of
laws, policies and requirement
organization is most suitable
of your business organization
6. Make an organizational plan

3. Who will be you’re your 4. What will be the duties and

workers? responsibilities of each?
7. Make a management plan

1. Write down your goals and

2. Determine your strategies
objectives
 7. Make a management plan

3. What customers policies will 4. What human resources

you adapt? development program will you 5. What will be your program of
undertake? social responsibility?
Being an ENTREPRENEUR, you must have an
EFFECTIVE BUSINESS PLAN. You should
follow the steps in preparing a business so that the
data must be accurate and adequate. This will help
you to choose the appropriate and effective
strategies to ensure success in your business
venture.
Activity for today is
posted in our google
classroom