Chapter 3.1 Flashcards
Who reads the business plan
It is read by banks/investors to see the objectives for the future. The business owner ofter refers to it so if the business is on track.
What is the executive summary?
It’s is a one page overview of the business plan. It contains the business name, legal structure, mission statement and objectives.
What is the operations plan?
It is the day to day operations. This includes systems and procedures.
What is the marketing plan?
It is a plan which includes the market research and target market identification. It also contains sales objectives, analysis and completion and market strategies.
What is the financial plan?
It is a plan which includes set-up costs, cash flow information and assets and liabilities.
What is a business plan?
It is a plan which logically maps out the direction of the business’s future/journey.
