business planning Flashcards
1
Q
what is a business plan?
A
document created by a business or
entrepreneur that provides details about each element of the business.
2
Q
what is the marketing mix
A
the four Ps (product, price, place and promotion)
3
Q
sources of finance
A
long-term and short-term finance
4
Q
what is the purpose of a business plan?
A
allows the business to minimise risk when setting up
5
Q
what do business have to do to minimise risk
A
-create a business plan
-including researching primary and secondary research
