Apr 20, 2016

Finance English practice: Unit 50 — Business Plans

32 cards
, 90 answers
  • Complete the sentences below. Use the key words if necessary.
    • Market opportunities

      key words
      market opportunity      ○      business plan      ○      Executive Summary


      If you have a brilliant idea for a new product or service, or a better or cheaper way of supplying an existing product or service, you will probably require finance: money to start up a company to take this , or to expand an existing company. If you want to interest venture capitalists in your project, you will have to write a .

      Business plans begin with a summary, often called an , which explains in one or two pages:
      • what sort of company it is
      • what the product or service is, and what is special about it
      • who the managers are
      • how much money you need, and what you will use it for.

      The company, the product and the market

      key words
      unique      ○      benefits      ○      projected trends      ○      marketing strategy      ○      tactics      ○      sales promotions      ○      implement


      If the company already exists, the first chapter of the business plan explains how it was started and how it has grown, and gives a history of sales and profits. It describes the company today, and the plans for the future.

      The second chapter describes what you already sell or want to sell. It explains what differentiates the product or service from other existing ones — what makes it different or . It focuses on the or advantages for customers — how it will improve people’s lives!

      The chapter on the market describes the industry you operate in, the market segments, the other firms in the market (your competitors), changes in the industry, and — forecasts for the future — and technological opportunities. It outlines what the customers need, where they are, and how you plan to reach them. It explains how you will make sure that customers know about your product or services and why they will prefer it to the competition. It gives details of your , including sales — the ways you plan to achieve sales, advertising, publicity and — incentives to encourage customers to buy.

      The chapter on the management team gives details about the most important staff. The chapter on strategy outlines your strategies for marketing, pricing, distribution, sales, etc., and how you are going to them or carry them out.

      The financial analysis

      key words
      sales forecasts      ○      curriculum vitae


      The financial analysis gives details of the historical performance, if it is an existing company, and describes existing finance and assets. It explains why the business need funds, and gives (the sales the business expects to achieve in a particular period of time), projected or expected financial statements (profit and loss account, cash flow statement, and balance sheet), and projections for future income. It will probably include a breakeven analysis, and an analysis of financial ratios.

      Various appendices can come at the end of the business plan, including the (CV) of each top manager and promotional materials for your products.

    • British English or American English?
      • resume
        • American English
        • British English

      • curriculum vitae
        • American English
        • British English

    • Make word combinations.
      • implement  . . . 
        strategies
        • services
        • customers
        • finance
        • strategies

      • reach  . . . 
        customers
        • finance
        • services
        • strategies
        • customers

      • require  . . . 
        finance
        • customers
        • finance
        • services
        • strategies

      • supply  . . . 
        services
        • services
        • customers
        • strategies
        • finance

    • Complete the sentences below.
      • Are you sure you can  . . . 
        supply
        these  . . . 
        services
        more efficiently than your competitors?
        • reach | customers
        • implement | strategies
        • supply | services
        • finance | require

      • We’re convinced our innovative advertising will allow us to  . . . 
        reach
        our potential  . . . 
        customers
        .
        • supply | services
        • implement | strategies
        • finance | require
        • reach | customers

      • This business plan gives details of the  . . . 
        finance
        we  . . . 
        finance
        , and what we’re going to do with it.
        • finance | require
        • implement | strategies
        • supply | services
        • reach | customers

      • We’ll hire two experienced managers to help us  . . . 
        implement
        our  . . . 
        strategies
        .
        • finance | require
        • implement | strategies
        • supply | services
        • reach | customers

    • Complete the sentences.
      • The advertising will stress the  . . . 
        benefits
        the consumers will get form the product — how it will save them time and money.
        • benefits
        • sales promotions

      • We’re convinced this is a great  . . . 
        market opportunity
        : people will really want what we plan to offer.
        • sales forecast
        • market opportunity

      • We’ll also use a few  . . . 
        sales promotions
        , such as giving away free samples or offering discounts.
        • sales promotions
        • benefits

      • Our  . . . 
        sales forecast
        is over 100,000 units a year.
        • sales forecast
        • market opportunity

      • Our  . . . 
        marketing strategy
        is essentially to advertise a lot and sell at a very low price.
        • marketing strategy
        • marketing opportunity

      • The product is  . . . 
        unique
        : there’s absolutely nothing else like it on the market.
        • unique
        • benefits

    • Sort the word combination.
      • primary market —  . . . 
        finance
        • finance
        • marketing

      • bear market —  . . . 
        finance
        • marketing
        • finance

      • market penetration —  . . . 
        marketing
        • finance
        • marketing

      • market maker —  . . . 
        finance
        • finance
        • marketing

      • market value —  . . . 
        finance
        • finance
        • marketing

      • secondary market —  . . . 
        finance
        • finance
        • marketing

      • equity market —  . . . 
        finance
        • marketing
        • finance

      • over-the-counter market —  . . . 
        finance
        • marketing
        • finance

      • market share —  . . . 
        marketing
        • marketing
        • finance

      • currency market —  . . . 
        finance
        • finance
        • marketing

      • stock market —  . . . 
        finance
        • finance
        • marketing

      • market skimming —  . . . 
        marketing
        • marketing
        • finance

      • market segment —  . . . 
        marketing
        • marketing
        • finance

      • market capitalization —  . . . 
        finance
        • marketing
        • finance

      • market price —  . . . 
        finance
        • marketing
        • finance

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