BS2- Business Palns Flashcards
What is a business plan?
A formal written document that explains in detail how a business is going to achieve its objectives.
4 things included in a business plan:
What are we aiming to achieve Why What will need to be done to achieve this By whom When Using what resources
What are the benefits of a business plan to a business start up
It allows them to more easily gain investments and allows them to have a visual plan and visual goals.
What are the benefits of a business plan?
It shows the goals
Can compeer it to judge progress
Helps gain capital
Select 3 stakeholders and identify why they would want to see a company’s business plan
Investor- they would want to see one to ensure that the company had a solid idea and a plan of how they will meet the goals
Supplier- want to know that they will be part of the long term plan
Employees- allows them to see there progress compared to the goals and objectives
What are the potential drawbacks of producing a business plan
It may put investors off if it looks really unrealistic
May not know how to produce a proper one therefore it will look unprofessional and look like there in experienced.