Busines Plans Flashcards
1
Q
Business plan
A
Written document that outlines aims and objectives for a busines
2
Q
Importance of business plan
A
Test feasibility if ideas, to secure funding, make business planning manageable
3
Q
Who’s interested in business plans
A
Shareholders, suppliers, employees, bank
4
Q
What’s included in a business plan
A
Workforce plan, cash flow forecast, marketing plan, financing proposals, break even analysis
5
Q
Benefits of business plan
A
Make businesses consider external factors, forces business to consider all eventualities, helps efficient allocation of resources, lower interest rates from bank
6
Q
Limitations of business plan
A
Ability to implement plan, hard to get her research in some markets, financial forecasts based on inaccurate info, external factors
