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Doncouse_Jeremy_Week4 - Jeremy Doncouse MGMT303 Class...

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Jeremy Doncouse MGMT303 Class Discussion #5, page 223 May 17, 2009 Class Discussion Question 5, page 223: What is the purpose of the business plan if the audience is the following? A) The entrepreneur. To the entrepreneur the purpose of the plan is two-fold 1) to prepare one’s self for all the planning and details associated with starting up a business to ensure its success and 2) to convince outside sources such as investors, banker, suppliers, employees, and more that the business will be successful and that the details of the operation have been well thought out to secure much needed resources such as labor, materials, and capital. B) An investor. Investors provide large sums of money to the entrepreneur and want to see a large rate of return within five to seven years. They are concerned with the entrepreneur’s character and willingness to be managed by them. Investors like to see specific information in the business plan even if the information is based on assumptions. The point to the investor is if the entrepreneur is realistic in his assumptions since he must
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