Lecture number 3. The structure and content of sections of the business plan

1. General structure of the business plan

Business plan structure:

1) title page;

2) abstract;

3) confidentiality memorandum;

4) table of contents;

Then its main sections.

1) summary;

2) business history of the organization (description of the industry);

3) characteristics of the organization's business object;

4) analysis of the business environment of the organization;

5) marketing plan;

6) production plan;

7) organizational plan;

8) financial plan;

9) risk assessment and insurance;

10) applications.

Immediately make a reservation that this structure of the business plan is only advisory in nature and does not claim to be exemplary. The list of sections and their content in each case may be supplemented or refined depending on the conditions in which the company operates.

Let us now turn to a detailed examination of the structure of the business plan and the content of its sections.

2. Title page, table of contents, confidentiality memorandum, business plan summary

Business plan starts with title page, which is usually indicated by:

1) name of the project;

2) the place of preparation of the plan;

3) the authors of the project, the name and address of the enterprise, telephone numbers;

4) names and addresses of founders;

5) purpose of the business plan and its users.

The title page usually contains confidentiality memorandum. It is drawn up in order to warn all persons about the non-disclosure of the information contained in the plan and its use solely in the interests of the company that submitted the project.

Also, the title page may contain a requirement to return the business plan to the author if it does not cause interest to invest in its implementation.

After the title page follows table of contents - wording of the sections of the plan indicating the pages and highlighting the most important points in accordance with the characteristics of a particular project.

The business plan may contain annotation, which provides a brief description of the purpose and main provisions of the business plan (0,5 - 2 pages). The annotation can be formatted in the following order.

1. Enterprise.

2. Address.

3. Phone, fax.

4. Head of the enterprise.

5. The essence of the proposed project and the place of implementation.

6. The result of the project implementation.

7. Necessary financial resources.

8. Payback period of the project.

9. Expected average annual profit.

10. Proposed form and conditions of the investor's participation.

11. Possible guarantees for the return of investments.

В administered the task of compiling a business plan and the circle of persons to whom it is addressed are indicated.

Summary (business concept) - a summary of the main provisions of the proposed plan, i.e. information about the intended business and the goals that the enterprise or entrepreneur sets for himself when starting his own business or developing an existing one.

The concept is drawn up after writing all sections of the business plan, as it contains the most basic of all its sections.

The summary indicates business opportunities, their attractiveness, importance for the enterprise and the region, necessary financial resources (own or borrowed), possible repayment period of borrowed funds, expected profit and its distribution, investment conditions. The summary should contain the main purpose of the proposed business and the purpose of the business plan being developed.

In addition to highlighting the main goal (goals) of the business plan, it is indicated for whom it is intended: for a potential investor or lender, possible business partners or shareholders, co-founders, the management of the enterprise or the entrepreneur himself (as a means of self-organization), state or municipal authorities ( to get support).

Thus, the summary contains the following data:

1) ideas, goals and essence of the project;

2) features of the offered goods (services, works) and their advantages in comparison with similar products of competitors;

3) strategy and tactics for achieving the set goals;

4) qualification of personnel and especially leading managers;

5) demand forecast, sales volumes of goods (services, works) and the amount of revenue in the coming period (month, quarter, year, etc.);

6) the planned cost of production and the need for financing;

7) expected net profit, level of profitability and payback period;

8) main success factors (description of methods of action and activities).

3. Business history of the organization (industry description)

This section contains basic information about the company and the scope of its activities. It reflects the main events that influenced the emergence of the ideas of the proposed business, as well as the main problems facing the organization at the present time. The actual position of the enterprise in the market is assessed, the directions of its development for the future are indicated. A long-standing enterprise gives a brief history of its economic activity. Specifies the type of proposed business. The types of activities that the enterprise intends to engage in or is already engaged in are represented.

The section describes the positive and negative aspects of the location of the enterprise. The main factors influencing or capable (under certain conditions) of influencing the activity of the enterprise are considered. This section also contains a general description of the industry.

The section ends with the formulation of the mission and goals of the enterprise and the definition of a business strategy.

4. Characteristics of the organization's business object

In the section of the business plan "Characteristics of the organization's business object" ("Characteristics of services and products"), a description of the enterprise's products from the consumer's point of view is presented. For this purpose, the following information is provided:

1) needs satisfied by the product;

2) quality indicators;

3) economic indicators;

4) external design;

5) comparison with other similar products;

6) patent protection;

7) indicators of export and its possibilities;

8) the main directions of product improvement;

9) possible key success factors.

The main purpose of the goods is to satisfy the needs of the client of the company. The business plan reflects the scope, the list of functional features, factors of product attractiveness. The factors of product attractiveness include value, possibility of purchase, price, quality, environmental friendliness, image, brand, shape, packaging, service life, etc.

Quality indicators are associated with the properties of the product - durability, reliability, ease and safety of operation and repair, etc. Some quality indicators can be quantified, the relevant data are given in the business plan. The presence of certificates of industrial products is indicated.

The difference between a new or existing product and a competitor's product is formed. The patent rights of the enterprise, patents for utility models, trademarks are described. The presence of licenses, as well as know-how, is indicated. Specifies the possibility of exporting products. If the products are supplied to the foreign market, then the main indicators characterizing the export (country, sales volume, foreign exchange earnings) are given.

For a new product, the business plan indicates whether this product meets the novelty requirement. This term refers to the following products:

1) a product that has no analogues on the market;

2) a product that has a significant qualitative improvement in comparison with analogue products;

3) a product that was already on the market, after which it was improved so that its properties changed fundamentally;

4) a product of market novelty, i.e. new only for a given market;

5) an old product that has found a new scope for itself.

The role of this section of the business plan is to present to the potential investor what new unique properties the product has, to prove that it is able to arouse the interest of buyers.

5. Analysis of the business environment of the organization

This section, as a rule, is devoted to research and analysis of the market, competition on it, etc. First of all, market research is aimed at identifying today's consumers of products and services and identifying potential ones. The priorities that guide the consumer when buying are determined - quality, price, time and accuracy of delivery, reliability of supplies, after-sales service, etc.

As part of market research, market segmentation is carried out, the size and capacity of markets for the company's products are determined. Market segmentation refers to the allocation of individual parts (segments) of the market that differ from each other in the characteristics of demand for goods (services), i.e., the breakdown of consumers by motivation and other characteristics.

Market size - the territory in which the sale of goods (services) of the enterprise takes place.

Market volume - the volume of goods (services) sold on the market during a certain period of time. The market capacity during planning is calculated in monetary and natural terms. Knowing the capacity of the market and the trend of its change allows us to assess the prospects of the market in the planning period. For example, a market seems unpromising, the capacity of which is insignificant compared to the production capacity of the enterprise. In this case, the income from sales on it may not compensate for the costs of introducing it to the market and the costs of manufacturing products. At the same time, the large capacity of the market may not always determine the planned sales volume. In this case, one has to take into account the severity of competition, the degree of consumer satisfaction with competitors' products and other factors that determine the possibility of market development.

Methods for calculating market capacity for different products vary. When determining the capacity of the consumer goods market, the factors that form consumer demand are analyzed. This may include the following factors:

1) the number and sex and age structure of the population in the region;

2) the level of income and the structure of consumer spending of the population;

3) policy in the field of remuneration.

Market volume is a dynamic indicator that develops under the influence of many factors. It is based on the relationship between supply and demand for the planned product. A generalizing indicator that characterizes supply and demand is commonly called market conditions. It is under the influence of conjuncture that the market capacity develops in a given period. Knowledge of the commodity market situation allows not only to determine its state, but also to predict the nature of further development, which is a necessary condition for forecasting the possible volume of sales during planning.

The program for assessing the current market situation depends on the characteristics of the product, the nature of the enterprise, the scale of production of a particular product, and a number of other factors.

An integrated approach to the study of market conditions involves the use of various, complementary sources of information, the use of a combination of different methods of analysis and forecasting.

The following methods are most often used to collect and analyze information:

1) observation;

2) survey;

3) experiment;

4) modeling.

An effective method is observation based on the systematic collection of information on the state of commodity markets in combination with a retrospective analysis and forecast of the following indicators:

1) market capacity;

2) the number of suppliers of the same type of products;

3) sales volumes in physical and value terms;

4) development of sales of certain groups of goods;

5) sales speed;

6) stocks of products in distribution channels, etc.

In the practice of conjuncture analysis, observation provides more objective and reliable estimates than other methods of collecting information, since it provides a study of the behavior of the object of study in a real situation and a high representativeness of the results.

A survey is an oral or written appeal of a specialist conducting an analysis to employees of an enterprise, consumers or clients with questions, the content of which is the subject of research. With the help of a survey, it is possible to identify a system of preferences when choosing goods by consumers, the reason for returning a product or refusing to purchase. It can be conducted in the form of a questionnaire or interview.

An experiment is a study of the influence of one factor on another in a real setting. It provides, when analyzing the market, the possibility of separate observation of the influence of various factors, realism of conditions and control over extraneous factors. An experiment can identify causal relationships when one or more factors change under controlled conditions, such as an increase in sales with a decrease in price.

Experiments can be carried out not only on real objects, but also on artificial models. When analyzing the market, economic and mathematical modeling is most often used, which allows you to create such analogues of the objects under study, which reflect all their most important properties and omit secondary, insignificant properties from the point of view of the experiment.

In the process of preparing this section of the business plan, answers are given to questions about who, why, how much and when will be ready to buy products tomorrow, the day after tomorrow and in general over the next 2, 3 or more years. This section lists all available product orders. Among other things, here:

1) it analyzes how quickly products (services) will establish themselves on the market, justify the possibility of its further expansion;

2) the main factors influencing the expansion of the market are assessed (for example, trends in the development of the industry, region, socio-economic regional and federal policies, the creation of competition, etc.);

3) the main competitors are monitored and evaluated. The strengths and weaknesses of the competitor and the compiler of the business plan, the competitiveness of the goods and services produced are singled out and analyzed;

4) based on the assessment of the advantages of the goods and services produced, the possible volume of sales in physical and monetary terms is determined.

6. Marketing plan

Marketing is is a system for organizing the activities of a company in the development, production and marketing of goods and the provision of services based on a comprehensive study of the market and real customer requests in order to obtain high profits.

The main thing in marketing is a dual and complementary approach. On the one hand, it is that all the activities of the company, including the formation of its production programs, scientific and technical research, capital investments, financial resources and labor, as well as sales, maintenance programs and others, must be based on deep and reliable knowledge of the consumer demand and its changes. It is necessary to identify unsatisfied customer requests in order to focus production on their provision. On the other hand, it is important to actively influence the market and existing demand, the formation of needs and consumer preferences.

The main principle of marketing is the orientation of the final results of production to the requirements and wishes of consumers.

To solve a complex set of problems of creating a product and its movement to the consumer, marketing must perform the following functions: analytical, production and marketing.

Analytic function includes studying:

1) consumers;

2) competitors;

3) goods;

4) prices;

5) commodity circulation and sales;

6) sales promotion and advertising systems;

7) the internal environment of the enterprise.

As part of production function:

1) organization of production of new goods, development of more advanced technologies;

2) provision of material and technical supply;

3) quality management and competitiveness of finished products.

В sales function (sales function) entering:

1) organization of the distribution system;

2) service organization;

3) organization of a system for generating demand and stimulating sales;

4) conducting a targeted commodity policy;

5) conducting a pricing policy.

Of great importance in marketing is command and control functionwhich means:

1) organization of strategic and operational planning at the enterprise;

2) information support for team management;

3) organization of the communication system at the enterprise;

4) organization of marketing control (feedback, situational analysis).

The analytical function is a system of marketing research that solves the following tasks: the systematic collection, registration and analysis of data on problems related to marketing. Marketing research is concerned with making decisions on all aspects of marketing activities.

These studies and decisions made on their basis are reflected in the relevant section of the business plan - "Marketing Plan". This section explains the main elements of the plan in terms of products, markets, development of various industries. This section contains information about:

1) what marketing strategy is adopted by the company;

2) how the goods will be sold - through their own company stores or through wholesale trade organizations;

3) how prices for goods will be determined and what level of profitability on invested funds is expected to be realized;

4) how it is supposed to achieve sales growth - by expanding the sales area or by searching for new forms of attracting buyers;

5) how the service will be organized and how much money will be needed for this;

6) how it is supposed to achieve a good reputation of the goods and the firm itself in the eyes of the public.

Thus, this section includes items such as:

1) goals and marketing strategies;

2) pricing;

3) a scheme for the distribution of goods;

4) sales promotion methods;

5) organization of after-sales customer service;

6) advertising;

7) formation of public opinion about the company and products;

8) marketing budget;

9) controlling marketing.

7. Production plan

This section of the business plan is prepared only by the firm that is or will be engaged in production. For non-manufacturing firms, the need for long-term assets, working capital, and cost projections are defined in the "Financial Plan" section.

Depending on the type of business, the production plan provides a brief description of the features of the technological process for manufacturing products or providing services. The production plan is formed on the basis of the sales plan for manufactured products and the projected production capacities of the enterprise.

The developers of the business plan in this section must show that the enterprise can actually produce the required quantity of products at the right time and with the required quality.

  Structure this section might look like this:

1) production technology;

2) industrial cooperation;

3) control of the production process;

4) environmental protection system;

5) production program;

6) production capacities and their development;

7) the need for long-term assets;

8) the need for working capital;

9) cost forecast.

8. Organizational plan

This section of the business plan is devoted to the company's management system and its personnel policy. The section structure might look like this:

1) organizational structure;

2) key management personnel;

3) professional advisors and services;

4) personnel;

5) personnel policy of the company;

6) calendar plan;

7) social development plan;

8) legal support of the company's activities.

The organizational structure is a way and form of bringing together employees to achieve the production and management goals set for the enterprise. It is documented in the graphic diagrams of the structure, staffing tables, regulations on the divisions of the enterprise management apparatus, job descriptions of individual performers. The organizational structure is characterized by the number of links, hierarchy, the nature of the distribution of powers and responsibilities vertically and horizontally in the structure of the management system.

The organizational structures used in industry depend on many factors - the size of the enterprise, the volume of funds, the number of employees, the principle of operation, the structure of the market, etc.

The business plan provides information on:

1) on the production and technological structure of the enterprise;

2) on the functions of key units;

3) on the composition of subsidiaries and branches, their organizational relationships with the parent company;

4) on the organizational structure of management;

5) on the organization of coordination of interaction between services and departments of the company;

6) on the automation of the control system.

An assessment of the compliance of the organizational structure with the goals and strategies of the enterprise is given.

9. Financial plan

This section of the business plan considers the issues of financial support for the company's activities and the most efficient use of funds (own and borrowed) based on an assessment of current financial information and a forecast of the volume of sales of goods on the markets in subsequent periods, i.e. here a reliable system of data is presented that reflects expected financial results of the firm.

The forecast of financial results is designed to answer the main questions that concern the manager. It is from this section that the manager learns about the profit that he can count on, and the lender - about the ability of a potential borrower to service the debt.

This section presents:

1) profit and loss statement;

2) balance of cash expenditures and receipts;

3) forecast balance of assets and liabilities (for the enterprise);

4) break-even analysis;

5) financing strategy.

In addition, based on the data presented, for analytical purposes, additional calculations are made of indicators of the financial condition of the enterprise (such as liquidity, solvency, profitability, use of assets, use of equity capital, etc.), indicators of return on investment, etc.

10. Risk assessment and insurance

The activities of business entities are constantly associated with risk.

There are different types of risk depending on the object or action, the riskiness of which is assessed: political, production, property, financial, currency, etc. Let's give a brief description of the most significant risks for the purposes of business planning:

1) sovereign (country) risk. It is a risk associated with the financial situation of an entire state when the majority of its economic agents, including the government, refuse to fulfill their external debt obligations. Foreign investors who purchased short-term government bonds in Russia on the eve of the 1998 crisis faced a similar risk. The need to take into account country risk is especially relevant for international banks, funds and institutions providing loans to states and companies with government guarantees, although in fact this risk has to be taken into account by anyone to a foreign investor. The main causes of risk are usually cited as possible wars, disasters, global economic downturn, ineffectiveness of government policy in the field of macroeconomics, etc.;

2) political risk. Sometimes considered as a synonym for country risk, but more often used to characterize financial relations between economic agents and governments of countries with fundamentally different political systems or an unstable political situation, when the possibility of revolution, civil war, nationalization of private capital, etc. is not excluded;

3) production risk, to a greater extent determined by the industry characteristics of the business, i.e., the structure of assets in which the owners decided to invest their capital. The same capital can be used for completely different productions; it is obvious that the degree of risk of production activities in this case, and therefore the investment of capital in it, will be fundamentally different. Thus, the meaning of production risk is that at the time of creation of an enterprise, its owners, in fact, make a strategically important and at the same time very risky decision - to invest capital in this particular type of business. If the choice of business turns out to be wrong, the owners will suffer significant financial and time losses.

The reason for financial losses lies in the fact that in the event of a forced liquidation of an enterprise, its material and technical base and current assets in the vast majority of cases are sold at a loss, that is, at prices that do not compensate for the initial costs. Even if we are not talking about the complete liquidation of the material and technical base, its re-profiling and advertising campaigns to "promote" a new business require significant additional costs;

4) financial risk, due to the structure of sources of funds. In this case, we are not talking about the riskiness of choosing to invest capital in certain assets, but about the riskiness of the policy regarding the advisability of attracting certain sources of financing for the company’s activities. In the vast majority of cases, sources of financing are not free, and the amount of payment varies both by type of source and in relation to a specific source, considered over time and (or) burdened with additional conditions and circumstances. In addition, the obligations towards the capital provider assumed by the enterprise in the event of attracting one or another source of financing are different. In particular, if obligations to external investors are not fulfilled in accordance with the agreement, then bankruptcy proceedings may well be initiated against the enterprise with inevitable losses for the owners in this case. The essence of financial risk and its significance are thus determined by the structure of long-term sources of financing - the higher the share of borrowed capital, the higher the level of financial risk;

5) the risk of a decrease in the purchasing power of the monetary unit. This type of risk is inherent in business activity in general, and its meaning is that inflation can lead to a decrease in business activity, profits, profitability, etc.;

6) interest rate risk, which represents the risk of loss due to changes in interest rates. This type of risk has to be taken into account by both investors and business entities. Thus, bondholders may incur losses if the market tends to reduce the average interest rates on similar financial instruments. For enterprises, the risk of lower interest rates manifests itself in various aspects, and both progressive and regressive trends in the dynamics of interest rates can have a negative impact. Thus, if an enterprise issued a bond issue with a relatively high interest rate, and subsequently, for one reason or another, interest rates on long-term financial instruments began to steadily decline, then the issuer incurs obvious losses. On the other hand, an increase in interest rates, for example, on short-term loans, leads to additional financial costs associated with the need to maintain the required level of working capital. Thus, the risk of changes in interest rates should be taken into account in long-term and short-term aspects, with differentiation by types of assets, liabilities, instruments;

7) systematic or market risk. Represents a risk (characteristic of all securities) that cannot be eliminated through diversification;

8) specific or unsystematic risk. It has a narrow interpretation and is assigned to transactions with financial assets. Specific risk is a security that is not associated with changes in the market portfolio and therefore can be eliminated by combining this security with other securities in a well-diversified portfolio;

9) project risk directly related to business planning. Any enterprise is forced to engage in investment activities to one degree or another. The reasons for this are the need and expediency of diversifying economic activities, the desire to enter new markets for goods and services, the desire to participate in the development of a new niche (territorial or product) in the global market for goods and services, etc. As a rule, investment activities are implemented through the development and implementation of some investment project. Any more or less large-scale project requires appropriate financing and most often cannot do without debt financing, when an enterprise, in addition to its own sources (issue of shares, profits), attracts borrowed capital by issuing a bond issue or obtaining a long-term loan. Since borrowed capital is not free, the costs of servicing and repaying it, i.e., current interest payments and periodic payments to repay the principal amount of the debt, are of a regular nature and therefore must have a constant source. In general, this source is the profit of the enterprise. If an enterprise expects to pay off with external investors only at the expense of the profits generated by this particular project, then in this case a project risk arises, which can be interpreted as the probability that the profit on the project will not be sufficient for settlements with investors (in a broad sense, we are talking about external investors and the owners of the enterprise, since if the income generated by the project is only sufficient to service external long-term debt, then such a project is unlikely to suit the owners of the enterprise). From the perspective of suppliers of borrowed capital, project risk, considered as the risk of non-repayment of invested capital, in some situations can develop into country risk. This occurs if the government acts as a guarantor for the project;

10) currency risk. Any entity that owns a financial asset or liability denominated in a foreign currency faces currency risk, which is the probability of loss as a result of changes in the foreign exchange rate. Depending on the situation, the consequences of changes in exchange rates can be extremely significant. Thus, as a result of the August crisis in Russia, when for a short time the dollar/ruble exchange rate increased 4 times, many enterprises were unable to pay off their Western creditors and investors;

11) transaction risk, which represents operational risk, i.e. the risk of losses associated with a specific operation. Since there are practically no risk-free transactions in business, this risk is probably the most common and cannot be completely eliminated. For example, a supplier may disrupt the rhythm of delivery, a debtor may delay payment of an invoice, a financial asset acquired with the expectation of capitalized profitability may depreciate due to the financial difficulties of the issuer, etc.;

12) actuarial risk, covered by an insurance company in exchange for payment of a premium. Actuarial calculations are called calculations in insurance, understood as a system of measures to create a monetary (insurance) fund through contributions from its participants, from the funds of which damage caused by natural disasters and accidents is compensated, as well as other amounts are paid in connection with the occurrence of certain events. Insurance in many cases is a voluntary procedure, although some transactions, particularly in the banking sector, are subject to mandatory insurance. In the event that insurance takes place, the concept of actuarial risk arises as part of the total risk transferred to the insurance organization.

With the development of market relations, business is always carried out in conditions of uncertainty and variability of both the external and internal environment. This means that there is always ambiguity about the usefulness of the expected end result and, consequently, there is a danger of unforeseen losses and failures.

The section structure usually looks like this:

1) formation of a complete list of possible risks;

2) assessment of the probability of manifestation of risks;

3) ranking risks according to the probability of manifestation;

4) assessment of the expected amount of losses in their implementation;

5) establishment and justification of an acceptable level of risk (determination of the area of ​​acceptable risk);

6) highlighting the most significant risks;

7) risk insurance.

Author: Beketova O.N.

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