The third interactive seminar of CUT’s IDEA factory course, powered by ARIS, on the topic of “Business plan development”, was held on Tuesday, March 21st. CUT students visited ARIS premises to obtain a practical understanding on how to develop a business plan for new enterprises.
IDEA FACTORY runs within the ‘New Enterprise Creation’ module of the BA Management, of the Department of Management, Entrepreneurship and Digital Business, at the Cyprus University of Technology and is coordinated by Dr. Elias Hadjielias.
A business plan is important, especially for new ventures, as it helps to:
- – Validate your business idea
- – Set and track goals
- – Take action
- – Manage recourses
- – Make decisions
- – Manage risk
- – Communicate internally & externally
- – Secure funding
- – Grow and pivot
Nikola Tsakkistou, Manager in Deloitte’s Financial Advisory, delivered a presentation on business plan development, providing insights about how to prepare a well-written business plan, followed by a workshop, which included mentoring of 10 student teams by the following mentors:
- – Dr. Elias Hadjielias, Cyprus University of Technology
- – Nikola Tsakkistou, Manager, Corporate Financial Advisory Services, Deloitte
- – Vrionis Karayiannis, Senior Consultant, Corporate Financial Advisory Services, Deloitte
- – Monika Tsartsali, Consultant, Innovation and Entrepreneurship Centre, Deloitte
