Business Planning Flashcards
(4 cards)
1
Q
What does SMART mean
A
Specific
Measurable
Achievable
Reasonable
Time
2
Q
What is a business plan
A
A formal written document that describes a business,its objectives ,its strategies,the market it is in and the financial forecast
3
Q
What is the purpose of a business plan
A
Provides a focus
Helps measure performance
Test financial liability
Helps raise finance
Identify gaps in information
Set appropriate objectives
3
Q
What is included in a business plan
A
The idea
Objectives and key targets
Finance required
Market overview
How the business will operate
Cash flow forecast
Forecast revenue,costs and profits
