Page 54 - Business Studies 11-12 (2006)

ENTREPRENEURSHIP: THE VENTURE, GRADE 11, COLLEGE PREPARATION (BDI3C) 53
The Benefits of a Venture Plan
Overall Expectations
By the end of this course, students will:
• assess the importance of having a venture plan;
• analyse the structure and content of a venture plan; • explain how to evaluate and revise a venture plan.
Specific Expectations
The Importance of Having a Venture Plan
By the end of this course, students will:
– describe the purpose of a venture plan;
– explain the importance of having a plan that is organized according to a formal and accepted structure and is professionally presented;
– identify the people or organizations that might be interested in a venture plan (e.g., venture capitalists, financial institutions, investors).
Components of a Venture Plan
By the end of this course, students will:
– identify and describe the components of a venture plan (e.g., executive summary, marketing research, resource analysis, production plan, marketing plan, financial plan);
– describe sources of information and advice that may facilitate the preparation of a venture plan (e.g., local Business Enterprise Centres, National Council of Ethnic Canadian Business and Professional Associations,Aboriginal Business and Economic Development Organization, Canadian Women’s Business Network);
– use the computer to access the venture plan templates that are available from banks, government departments, and private companies to help prepare a venture plan.
Evaluating and Revising a Venture Plan
By the end of this course, students will:
– describe why it is important for a venture plan to be flexible, ethical, and adaptable;
– forecast conditions that may require the revision of a venture plan;
– explain how people in the community (e.g., entrepreneurs, bankers, friends, and family) may contribute to the evaluation and revision of a venture plan;
– explain how producing a thorough and accurate venture plan might reduce start- up costs and financial risk.