Business Plan Flashcards
1
Q
What are the elements of a business plan?
A
- executive summary
- operational plan
- business opportunity
- marketing plan
- financial forecast
- expansion
2
Q
Executive summary.
A
- gives us and overview of the business
- details about the owner
3
Q
Operational plan
A
-goes deeper in the details of the business
- structure or type of business
- aims and objectives
4
Q
Business opportunity.
A
- focused on products/services
- its features, packaging, brand
- how you are going to get it
5
Q
Market plan
A
- market research carried out and what it revealed
- prospective customers
- price
- advertising
6
Q
Financial forecast.
A
- giving description of financial prediction
- source of finance
- expected sales
- profit and loss
7
Q
Expansion
A
- giving an indication of future plans
- franchising
- add more products
