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mined the target market share for each market segment ? ? Writing a business plan Check List (Market and petition) Yes No 23 182。 Opportunities and Risks 182。 Elements of a good business plan 182。 1) Product/ Service 2) Market and Competition 3) Marketing 4) Business System 5) Organization and HR 6) Opportunities and Risks 7) Implementation Schedule 8) Financial Planning ? What is a business plan Developing a business idea (idea which can make money) into a detailed plan that can be implemented 4 182。 Definition of a business plan 182。 Prioritizing a business idea 182。 Prioritization of a business idea In search of a killer idea – A process to prioritize generated ideas – Positioning of ideas on the below chart based on the potential market and its feasibility ※ Killer Idea: An idea capable of creating a new market (ex. walkman, mobile phone, Dialpad, 45min. photograph printing, etc.) Seek solutions for obstacles in implementation Immediately launch business plan writeup Postpone Seek ways to expand market size Feasibility Low High Market size (allow growth) Low High ? What is a business plan 11 182。 Marketing 182。 Summary The summary should be able to deliver the most important aspects of the business plan to the decisionmakers Focus on these four elements when writing your summary ― Clarity of the business idea ― Value the product/ service provides to the customer ― Market size and growth ― Return on investment Describe your business idea as clearly, pellingly, and concisely as you can 16 182。D Production Marketing Sales Service ? Writing a business plan 182。Implementation Schedule A realistic fiveyear plan enables you to consider interrelated issues in promoting your project and above all, help you to avoid possible risks from attempting to reach your targets with an overly optimistic planning 35 Sample Gantt Chart Task 20xx 1 2 3 4 5 6 7 8 9 10 11 12 20xx 20xx 20xx Development ? Software development ? Hardware Setup ? Test Marketing ? Establish customer relationship ? Advertising ? Regional expansion Organization/HR ? TFT anization/management ? Recruiting/training Milestone New product pletion Launch advertising Busan operations Kwangju operations Taegu operations Seoul operations ? Writing a business plan 36 ? Are all major tasks included in the schedule ? □ Gantt chart implementation schedule ? Is the implementation schedule in the form of a Gantt chart ? ? Is the implementation schedule consistent with other sections (anization, personnel, financial planning) of the business plan ? □ Milestone ? Have all the major milestones been indicated ? ? Are the milestones consistent with the Gantt implementation schedule ? ? Is the schedule overly optimistic ? □ Interrelation and interdependency ? Is the order of tasks logically laid out ? ? Is there a reasonable explanation for the interdependencies between tasks ? ? Writing a business plan Check List (Implementation schedule) Yes No 37 Minimum required for financial。 the number of potential customers, range of product/service, are the customers panies or individuals, where do they prefer to shop, does the product require explanation, what is the price bracket, what is the frequency of purchase, what are the institutional/legal constraints –Another significant marketing decision is whether your pany will handle the distribution itself, or whether a specialized operation will handle it for you. Technological developments have greatly expanded the spectrum of distribution channels and the choices are as follows 。 The need to write a business plan “Writing a business plan forces you into disciplined thinking, if you do an intellectually honest job. An idea may sound great, but when you put down all the details and numbers it may fall apart.” ? Writing a business plan The business plan was first used in the USA by startup and venture panies as means of acquiring funds from private investors and venture capitalists. Even major corporations rely on business plans to help them make internal investment decisions. – Can systematically examine feasibility of the new business from various angles Can provide solutions to problems and heighten efficiency of the new business with clear analysis of the situation ― Provides an invaluable tool for management and evaluation of the project Benefits of writing a business plan 14 182。 Product/ Service 182。Developing a business idea 6 182。 Developing a business idea 182。 The significance of a business idea 182。 Significance of a business idea There are many different ways to generate a business idea. The following are remendations to e up with wellanized business ideasbest if implemented at the same time – Intangible Workshop : Hold workshops to generate ideas to facilitate pany intangibles, as the significance of intangibles continue to grow under the new economy – Benchmarking/Megatrend Analysis : Study megatrends of other industries to generate ideas or conduct benchmarking analysis – Online Idea DB : Make an idea DB online to enable review/posting of ideas as a way to help develop business ideas – Business Plan Competition: Hold business plan petitions to generate business ideas ? What is a business plan ‘No business idea, no business plan’ ‘No business plan, no business’ A business idea is the start of a business establishment. You must have many creative ideas which can be transformed into a business in order to create value 182。 Summary 182。 Financial Planning 13 182。 the choice can be eithe