KK9 Planning tools and Business Plans

Question 1

What is Planning

Answer 1

the process of thinking about the strategies and tasks required to best achieve a business objective.

Question 2

What is strategic planning

Answer 2

A implimentation/outcome that requires a longer period of time to impliment/gain.

Question 3

Tactical Plan

Answer 3

A implimentation/outcome that requires a standard period of time to impliment/gain.

Question 4

Operational Plan

Answer 4

A implimentation/outcome that requires a short period of time to impliment/gain.

Question 5

Executive summary

Answer 5

It is a one page summary of the business and its objectives. This is best to be prepared at the end of the plan writing process.

Question 6

Operation plan

Answer 6

Outlining how the business will be set up and the human resource needs

Question 7

Financial Plan

Answer 7

how the business will be financed, projected cash flow, revenue, expenses and profit

Question 8

Marketing Plan

Answer 8

information on the industry, competitors and the marketing strategy