What are considerations for exploring the business concept?

size and receptivity of potential customers for proposed service

revenue generated from proposed service

ability of proposed service/program to address specific goals within strategic plan of organization

Select all that is true of considering size and receptivity of potential customers for proposed service?

clearly describes the need for proposed service & number of potential customers in market

use public health data for disease trends and stats

Select all that is true when considering revenue generated from proposed service.

may generate revenue or reduce costs

Developing a business plan: mission statement conduct a situation analysis and analyze the market including geographics and public health status. select one or more market areas that will most likely be interested in your service. identify and evaluate potential competitors to understand how other providers operate. analyze any applicable laws, regulations, and requirements.

Assess clinical & quality requirements

Developing a business plan: describe details associated with the planned operation of service including equipment needed, how to handle extreme demands, and providing a clear description of the day to day activities. choose a target market and develop plan to gain their business.

Define processes and operations

Developing a business plan: most important step in the business planning process. business must be profitable. major milestones and action plan for implementing and operating the proposed service. Gantt chart. conduct a SWOT analysis. last step. based on failure of business to achieve pre determined goals and a timeline for those goals. Preferred to set a definitive benchmark for comparison, evaluate progress and develop procedures.

Assess critical risks and opportunities

Select all that is true about expenses.

all costs should increase annually based on several factors

All costs should increase annually based on several factors including:

other sources of evidence supporting expected increases in costs of goods/services

Identifying an action plan includes the following components:

start & finish dates for each task required to accomplish objectives

individuals responsible for accomplishing the objectives of the business plan

periodic monitoring & assessment of performance

Select all that is true of assessing critical risks and opportunities.

SWOT is conducted later in business plan process

Select all that is true when writing a business plan.

should be informative & balanced

should be written with a specific audience

should be easy to read and understand

should have proper organization, grammar, punctuation, and sentence structure

Select all that is true of Executive summary.

most critical section of business plan

must capture the readers' attention

the last component to be written //include a table of contents

Select all that is true of background and description.

describes the service opportunity

relevant details to help illustrate the service

Select all that is true of market analysis and strategy.

conducted within a situation analysis

part of the goal setting and strategy development elements of planning

presented as separate sections or together with the other strategies

Select all that is true of operational structure and process.

how the business/service will operate

.who/how the business/service will be provided

how customers will be enrolled in service

applicable regulatory, clinical, and quality requirements and how these requirements will be met

Select all that is true of financial projections.

estimated expenses and revenue generated over the first 3-5 years

investments necessary to begin and operate

Select all that is true of milestones, schedule, and action plan.

timeline that includes major accomplishments

program goals for implementation through first 3-5 yrs and long term range

Select all that is true about critical risk and opportunities.

describes major strengths and weaknesses

describes opportunities and threats

must present in an unbiased manner

Select all that is true of an exit strategy.

what will happen if service fails or becomes very successful

when/how a decision will be made to exit business

What to do with existing pts/customers. what will happen to employees/how equipment will be sold or transferred

Select all that is true of the conclusion.

provides a recommendation about the proposed business decision

What are the cardinal rules of public speaking?

tell them what you're going to tell them

tell them what you want them to know

Introduce yourself and teammates. Grab the audience's attention.

Tell them what you're going to tell them

Tell them what you want them to know

Be organized. Use pointer words. Them ore organized you are, the more professional the presentation will appear. Summarize each section and move on to the next section. It allows the audience members who have day dreamed to catch up with your presentation .

Tell them what you want them to know

Tell them what you're going to tell them

provide a summary/conclusion slide at the end

Tell them what you're going to tell them

Tell them what you want them to know

Business Planning

Authored by Nikki Valle

Science

University

NGSS covered

Used 1+ times

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40 questions

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MULTIPLE SELECT QUESTION

45 sec • 1 pt

Select all that is true of business planning.

focuses on a specific program or business within an organization

can also be used for start up companies

pharmacy --> clinical services

To provide data and proposed actions necessary to answer a business question.

purpose for business planning

not this

What is the final product of business planning?

a written business plan

not this

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Select all that is true of a written business plan.

must be written with specific audience in mind

plans that do not consider the audience are less likely to be implemented

MULTIPLE SELECT QUESTION

45 sec • 1 pt

What is a common mistake of business plans?

making plans too technical or detailed

difficult plans fail to keep attention of important stakeholders

MULTIPLE SELECT QUESTION

45 sec • 1 pt

What is the 1st step in creating a new business idea?

preliminary evaluation

AKA exploring the business concept

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of a preliminary evaluation?

to determine if the idea merits the development of a complete business plan

not this

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