The document discusses the importance of business planning and outlines the key components and steps in developing an effective business plan. It explains that business planning involves determining what to do, how to do it, when to do it, and what to expect in the future in order to attain goals. The stages of business planning progress from an unplanned stage to strategic planning stages involving 3-5 year plans. An effective business plan should clearly state objectives, how to accomplish them within set timelines and costs, and designate responsibilities. The outline provided includes sections covering business description, financial data, supporting documents, and importance of minimizing risks and costs through planning.

1. CHAPTER 7 Developing A Business Plan

15. SECTION THREE: Supporting Documents Personal resumes, personal balance sheets, cost of living budget, credit reports, letter of reference, job descriptions, letters of intent, copies of leases, contracts, legal documents, and anything else relevant to the plan.

19. CHAPTER 7 QUIZ

20. 1. STAGE OF BUSINESS PLAN THAT IN 3 OR 5 YEAR PLANNING.

21. 2. IT IS THE STAGE OF BUSINESS PLAN THAT THE OWNER DRAFTS AN ANNUAL PLAN.

22. 3. THE OWNER- MANAGER REALIZES THE NEED TO DEVELOP BUDGETING SYSTEM.

23. 4. THE OWNER- MANGER IS BUSY LOOKING FOR FUNDS, CUSTOMERS. MATERIALS AND EQUIPMENT.

24. 5 . PART OF BUSINESS PLAN OUTLINE THAT TELLS THE NAME OF BUSINESS, NAMES OF PRINCIPALS, ADDRESS AND PHONE NUMBER

25. 6 . SECTION OF FINANCIAL DATA THAT TELLS THE SOURCES AND APPLICATION OF FUNDING

26. 7. PART OF BUSINESS PLAN OUTLINE THAT TELLS THE NAME OF BUSINESS, NAMES OF PRINCIPALS, ADDRESS AND PHONE NUMBER

27. 8 . SECTION OF BUSINESS PLAN THAT TELLS THE PERSONAL RESUMES, PERSONAL BALANCE SHEETS, COST OF LIVING BUDGET, CREDIT REPORTS, LETTER OF REFERENCE, JOB DESCRIPTIONS, LETTERS OF INTENT, COPIES OF LEASES, CONTRACTS, LEGAL DOCUMENTS, AND ANYTHING ELSE RELEVANT TO THE PLAN.

28. 9 . IT INVOLVES THE ATTAINMENT OF GOALS, AND THE WAY TO ACCOMPLISH SUCH GOALS.

29. 10. THE OWNER- MANGER IS BUSY LOOKING FOR FUNDS, CUSTOMERS. MATERIALS AND EQUIPMENT

30. 11-13. COMPONENTS OF BUSINESS PLANNING

31. 13- 18 CHARACTERISTICS OF SOUND BUSINESS PLAN

32. 19-20 IMPORTANCE OF BUSINESS PLANNING