Our generation needs an ENTREPRENEURIAL REVOLUTION .Join
The entrepreneurship subject is capped by writing a business plan. This is the achilles heel of most young MBA students. To be able to write a good business plan requires a certain kind of maturity and personal mastery to be able to write a good one. Techniques alone is not sufficient.
The business plan is an indicator of the absorption and the learning of the student. The business plan cosists in general of two parts: THE VOMKRAPI (the business objectives) and SPATRES (the strategy, the 5W and lH of business). I made an analogy between LSM and the business plan writing for easier understanding and recall.
I typically grade bp in the following manner:
Innovativeness, compelling business concept - 30%
Completeness - 70%
Business objectives - l0%
Market estimates ea - l0%
Enterprise Delivery System - 20%
Financial Statements 20%
Comnpliance with regulations, Exit strategy, +-x/ of business l0%
Most defects are in EA, and EDS, FS are abbreviated and or missing. Others simply do not have substance in the BP: a dearth of data or hard research to prove their theory/plan'
A business plan is just like proving a thesis - a point and you need data, research to support that theory/concept. No data, no proof. Some cut and paste from the internet eg Euro monitor and that will pass as their data/ea/research? Some hard work is missing here....
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