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