Business

Business is a term given to the "institution" which has grown up around the exchange of value.

Types of Businesses

There are a number of different categorizations or types, denoted by a specific nomenclature occuring immediately after the business name. For example, in Canada we have:

1. SP - Sole Proprietorship (single owner)
2. Inc. - Incorporated (commonly used for personal "holding companies")
3. Ltd. - Limited Corporation (typically divisions of a parent company)
4. Corp. - Corporation (mostly used by large enterprises)
5. LLC - Limited Liability Company (usually used for subsidiaries or experimental spin-off companies)
6. Co-op - Co-operative (group-owned, multi-owner, etc)

• wikipedia: Types of business entity (by country)

Business Case

A clear argument for the viability of a particular product, service, brand or other saleable good. Business Cases can also be retrospective (i.e. in the case of Business Case Studies commonly used to teach management principles in MBA programs).

• wikipedia: Business cases
• Harvard University - Business Case Studies: https://cb.hbsp.harvard.edu/cbmp/pages/content/casebasedcourses | STORE

Cost-Benefit Analysis

Cost-Benefit Analysis (also called "Benefit-Cost Analysis" or abbreviated BCA) is a technique for forecasting future potential of a particular business or organizational investment.

• Spotlight on Benefit-Cost Analysis: http://www.fhwa.dot.gov/publications/publicroads/12marapr/05.cfm

Exit Strategy

An exit strategy is the escaping of a specific situation, typically a hostile or otherwise uncomfortable/difficult situation. An organization or individual without an exit strategy may be in a quagmire. At worst, an exit strategy will save face; at best, an exit strategy will peg a withdrawal to the achievement of an objective worth more than the cost of continued involvement.

Business Plan

A Business Plan is a formal statement of business objectives and intentions. A Business Plan most commonly includes an elevator pitch (short 10 second to 5 minute presentation for potential investors), mission statements, branding proposals, company logos, headquarter locations, product/service descriptions, business models, operations, market analysis, promotion strategies, cost/benefit analysis, revenue forecasts, Return On Investment (ROI) forecasts, growth strategies, how much the business would require to successfully go from startup to operational/successful, and potentially many other pieces of information about the planned business, its founders, products and services and the value it adds to the market or economy as a whole.

• wikipedia: Business Plan
• Tesla Motors' 178 million dollar USD Business Plan (and a few other successful examples): http://www.retailroadshow.com/roadshows.asp#

Quarterly Business Review

• The Power of the Quarterly Business Review – QBR: https://www.gainsight.com/customer-success-best-practices/quarterly-business-review-qbr/

Tools

• Business Development Canada (BDC) - Entrepreneur Toolkit: https://www.bdc.ca/en/articles-tools/entrepreneur-toolkit/pages/default.aspx
• Android App -- Business Plan Quick Builder: https://play.google.com/store/apps/details?id=uk.org.blurt.businessplanbuilder
• LivePlan -- Business Plan generator (commercial): https://www.liveplan.com/
• Enloop - Business Plan tracker (commerical): https://enloop.com/
• BizPlan (commerical): https://www.bizplan.com/
• BizPlan tool (commerical): https://bizplantool.com/

Resources

• Business Development Canada (BDC) - Business plan template: https://www.bdc.ca/en/articles-tools/entrepreneur-toolkit/templates-business-guides/pages/business-plan-template.aspx
• US Small Business Administration (SBA) - Write your business plan: https://www.sba.gov/business-guide/plan-your-business/write-your-business-plan

• Don't Write a Business Plan - Create a "Lean Canvas" Instead: https://leanstack.com/leancanvas (adapted from Business Model Canvas)
• Lean Business Plan -- Business Model Canvas: https://www.strategyzer.com/canvas/business-model-canvas
• $100 Startup -- 1-page Biz plan: http://100startup.com/#resources

• Bplans -- 500+ sample Business Plans: https://www.bplans.com/sample_business_plans.php
• Barclays - Business Plan basic template: https://www.barclays.co.uk/content/dam/documents/business/business-insight/guidetowritingbusinessplan.pdf
• Business Startup checklist: https://www.bizfilings.com/toolkit/research-topics/launching-your-business/starting-a-business-checklist
• YourBias: https://yourbias.is/

Tutorials

• How To Write A Business Plan: https://www.forbes.com/sites/nextavenue/2019/08/01/how-to-write-a-business-plan/ | AUDIO

• Five Common Problems Organizations Face Today: https://itrevolution.com/5-common-problems/

External Links

• wikipedia: Business
• wikipedia: Business cycle
• wikipedia: Business process mapping
• wikipedia: Zero-based budgeting
• wikipedia: Loss leader

• wikipedia: Monopoly
• wikipedia: Monopsony
• wikipedia: Oligopoly
• wikipedia: Wholesale
• wikipedia: Corporation
• wikipedia: Sole proprietorship
• wikipedia: General partnership
• wikipedia: Limited partnership
• wikipedia: Joint venture
• wikipedia: Cooperative
• wikipedia: Virtual business
• wikipedia: Responsibility assignment matrix

• Starting a Business? Here are the Four Business Types in Canada: http://www.milliondollarjourney.com/starting-a-business-here-are-the-four-business-types-in-canada.htm
• John Wooden's Pyramid still relevant in business, sports and life: http://www.entrepreneur.com/management/leadership/article176282.html
• 100 best places to live and launch: http://money.cnn.com/galleries/2008/fsb/0803/gallery.best_places_to_launch.fsb/index.html
• Business Failure Rates Highest in First Two Years: http://smallbiztrends.com/2005/07/business-failure-rates-highest-in.html
• On a Milestone Day, Business Lessons From the Beatles: http://dealbook.nytimes.com/2010/12/08/on-a-milestone-day-business-lessons-from-the-beatles/
• Bribery in the top global economies: http://blogs.independent.co.uk/2011/11/02/bribery-and-the-uk-2/
• The Top 25 Home-Based Business Ideas: http://www.allbusiness.com/top-25-home-based-businesses/16659292-1.html
• Berkshire's Business in Three Great Pictures: http://www.fool.com/investing/general/2013/01/09/berkshires-business-in-one-great-picture.aspx
• Which Country is the Cheapest for Starting a Business?: https://www.visualcapitalist.com/which-country-is-the-cheapest-for-starting-a-business/

See Also

E-Business | E-Commerce | Retail | Entrepreneurship | Finance | Insurance | Venture Capital | Startup | Economy | Business Model | Marketing