1.4.4 business plans Flashcards by Nishaan notay | Brainscape

Q

What is an advantage of a business plan?

A

Can help if you need a bank loan

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Q

What is the purpose of a bank loan?

A

Provides direction

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Q

What is the purpose of a bank loan?

A

Supports decision making

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Q

What is the purpose of a bank loan?

A

To seek investment

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Q

What is the purpose of a bank loan?

A

Helps establish the viability of the business

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Q

What is the purpose of a bank loan?

A

To arrange a bank loan

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Q

What is the purpose of a bank loan?

A

To help the business be successful (More than 50% of new businesses fail in first few years)

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Q

What is a disadvantage of a business plan?

A

Can be time consuming and at a high cost

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Q

What is a component of a business plan?

A

Business idea

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Q

What is a component of a business plan?

A

Target market

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Q

What is a component of a business plan?

A

aims and objectives

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Q

What is a component of a business plan?

A

Market research

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Q

What is a component of a business plan?

A

sales

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Q

What is a component of a business plan?

A

cash flow

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Q

What is a component of a business plan?

A

marketing mix

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Q

What is a component of a business plan?

A

location

Q

What is a component of a business plan?

A

sources if finance