[D] Business Planning

LET'S UNLOCK WORDS AND PHRASES 🔐

substitute

[ 'suhb-sti-toot ]

verb

- to take the place of another

Here's a model business plan; just substitute the specifics of your business.

risk

[ risk ]

noun

-the chance of loss or damage

The primary risk for most start-up businesses is insufficient capital.

primary

[ 'prahy-mer-ee ]

adjective

- most important; first in a list, series, or sequence

The primary reason for writing a business plan is to avoid common errors.

demonstrate

[ 'dem-uhn-streyt ]

verb

- to show clearly and deliberately; to present by example

Dan's business plan demonstrated that he had put a lot of thought into making his dream a reality.

address

[ uh-'dres ]

verb

- to direct to the attention of

Mike's business plan addresses the needs of small business owners.

LET'S READ! 📖

Direction: Read the conversations and see how the new words are used.

Dialogue 1

John_Happy Icon

Employee 1

I can't believe Maddie's Sweet Shop went out of business. They once were such a strong competitor for everyone else in the candy market.

Melly_Happy Icon

Employee 2

When they started selling fruit juices and magazines, I wondered what their marketing strategy was.

John_Happy Icon

Employee 1

It certainly proves there's no substitute for a solid business plan.

QUESTION:

1. Why does it seem unbelievable for Maddie's Sweet Shop to be out of business?

Dialogue 2

Icon_Mike

Mike

Jane is developing a business plan. I told her you might be able to help with the market research.

Icon_Anna Happy

Anna

I'm proud of her. Going into business for yourself can be risky, but very rewarding.

Icon_Mike

Mike

I know she is very serious about careful planning to avoid making obvious mistakes.

QUESTION:

1. Why is Ms. Right proud of Jane?

LET'S UNDERSTAND! 📚

Word Families

Part of Speech

Word

Example

verb	demonstrate	Let me demonstrate how this computer program works.
noun	demonstration	After the lecture, there was a demonstration of new marketing techniques.
adjective	demonstrative	The densely encoded programming was demonstrative of the computer language of the era.

verb	develop	Our assignment is to develop a cogent business plan.
noun	development	The plan was under development and would not be ready for months.
noun	developer	The job developer was kept busy trying to place the recent college graduates.

verb	evaluate	Please review these articles and evaluate their usefulness for our plan.
noun	evaluation	Yuka feared the professor's evaluation of her business plan.
noun	evaluator	The independent evaluator reviewed our business plan and gave us good feedback.

verb	strategize	Instead of going into a panic, let's strategize the best way to meet the deadline.
noun	strategy	The business plan lays out a strategy for future growth.
adjective	strategic	The handout outlined the strategic points to cover in a business plan.

verb	substitute	You can substitute oil for butter in this recipe.
noun	substitution	Substitution of less costly materials for bricks will hurt brick-makers.
noun	substitute	Vitamins should not be used as a substitute for a healthy diet.

NOTES

Words which end with -ment, -er, -tion are nouns.
Words which end with -ive, -ic are adjectives.

LET'S PRACTICE! 📄

Part I

Direction: Complete the table with the correct word form.

Verb	Noun	Adjective
strategize
demonstrate
develop
evaluate
substitute

Part II

Direction: Read the following and write the appropriate form of the word in the blank.

Short Talk

substitute
develop
strategy
evaluation
primary

Every business must (1) a business plan. The business plan's (2) purpose is to improve the entrepreneur's control over the business and to avoid common mistakes. It is not an overstatement to say that a business will fail or succeed on the strength of its business plan, so there is no (3) for a well-prepared plan. The business plan documents the (4) for growing the business. Think of the business plan as a road map that describes in which direction the company is going, what its goals are, where it wants to go, and how it is going to get there. The business plan helps the entrepreneur focus on setting the future course of the business. In developing the plan, the entrepreneur will conduct research to determine a systematic and realistic (5) of the company's target market and define its potential.

LET'S RECAP! 📝

TOEIC VOCAB LET'S RECAP

1. Which new words/phrases were easiest to remember? Give three.

どの語句/文が覚えやすかったですか？３つ挙げてください。

2. Which words/phrases were you having a hard time to speak/understand? Give three.

どの語句/文が話したり理解するのに難しかったですか？３つ挙げてください。

substitute

[ 'suhb-sti-toot ]

verb

- to take the place of another

Here's a model business plan; just substitute the specifics of your business.

risk
[ risk ]
noun
-the chance of loss or damage
The primary risk for most start-up businesses is insufficient capital.

primary
[ 'prahy-mer-ee ]
adjective
- most important; first in a list, series, or sequence
The primary reason for writing a business plan is to avoid common errors.

demonstrate
[ 'dem-uhn-streyt ]
verb
- to show clearly and deliberately; to present by example
Dan's business plan demonstrated that he had put a lot of thought into making his dream a reality.

address
[ uh-'dres ]
verb
- to direct to the attention of
Mike's business plan addresses the needs of small business owners.