ENTREPRENEURIAL PROCESS

Identify and Evaluate the opportunity

Develop Business Plan

Determination Of Resources Manage The Enterprise

PRODUCT PLANNING AND DEVELOPMENT PROCESS

Idea Stage

Concept Stage

Product Development Stage

Test Marketing

Commercialization

BUSINESS PLAN

Business Plan is a written document prepared by the entrepreneur that describes all the relevant external and internal elements involved in starting a new venture.

BUSINESS PLANNING PROCESS

Analyze the external environment Analyze the internal environment Define the business and mission Set corporate objectives Formulate strategies Make tactical plans Build in procedures for monitoring and controlling