Business Plan Flashcards
1
Q
What is a business plan
A
A plan that provides important details on your ideas, aims/goals, finance and labour
2
Q
Why is a business plan important
A
Clarify and organise their ideas
Detailed information
Setting objectives
Makes it easier to get a loan
Easier to make decisions
3
Q
Features of a business plan
A
Executive summary
Mission statement
Products/ services
Market analysis
Production details
4
Q
Disadvantages of a business plan
A
Not very flexible
Time consuming
Forecast may not be accurate
Does not guarantee success
