unit1- business plans

Question 1

what is the content of a business plan?

Answer 1

• start date ( or time of trading )
• the type of business and market sector
• the legal structure
• the vision for the business
• what makes it different from competition & who the c are
• what benefits it will have

Question 2

what are production strategies?

Answer 2

• location
• production
• systems

Question 3

what are be market analysis factors?

Answer 3

• the market
• the customer
• the competition
• the future

Question 4

what are the problems for small business planning?

Answer 4

• time
• expensive
• expertise
• accuracy
• opportunity cost

Question 5

what is a business plan?

Answer 5

a business plan is a document that allocates resources, identifies key decisions and prepares for problems and opportunities