Business plan Flashcards
(7 cards)
What is the introduction/overview/executive statement?
Provides businesses aims objectives and strategies. Sets how business is going to be run.
What is the marketing plan?
Establishes Size of the market, needs of customers, and level of competition.
What is the operations plan?
Where will the business be located, production methods and equipment needed.
What Is the human resource plan?
Number of employees, skills, experience and qualifications needed.
What is the financial plan?
Sales forecast indicating potential revenue.
Breakeven analysis
also indication on where the finance for running the business will be coming from.
Benefits of a business plan.
Sets out objective and strategy
Clear idea of direction and operation.
Sets out what personal skills needed to run business effectively
Drawbacks of a business plan.
May succeed without one if business is small and easily managed.
No business is guaranteed success.
External factors may effect the success.
