desirability
its vicinities
- This is measured by economic benefits to the people living in the
2. Concept Paper. It is a written plan for a business on how it will be managed. It is a tool to represent a
certain venture anticipating its future.
The different parts of the concept paper are the following:
a Introduction - This is the part that discusses the significant details of the product/service and why the
product/service is needed by the community.
b. Objectives - This part gives the details of the business both specific and general.
c. Rationale - This part focuses on the advantages of putting a certain business.
d. Terms & conditions - In this part, specific agreement from particular to general things are clarified.
e. Recommendations - This part is very important because it helps to improve the project in the future.
3. Business Plan - A business plan describes the nature of the business, the sales and marketing strategy,
the financial background, containing a projected profit and loss statement.
Components of Business Plan:
a. The environment -The needs of the people in the community should be identified
b. Behavior of the product - You should know the market trends, product demand in the community, the
resources, quantity and quality goods in buying,
c. Location of the business - You should consider the place where customers prefer to buy
d. Organizational plan - The needed workers in the business must be listed in the organizational chart.
e. Production plan - This involves the manpower, money, machinery, materials and methods to be able to
produce the desired output based on anticipated profit.
f. Financial plan - You as an entrepreneur need to determine the fiscal needs of the business and the sources
toile of a potential