Business Planning Flashcards
What is a business plan?
A business plan is an essential written document that provides a description and overview of your company’s future
What is an operational business plan?
An operational business plan is a written document that describes the nature of the business, the sales and the marketing strategy which is optimal for success. It provides the vision, directions, and goals for the organisation
What is a marketing strategy?
a plan of action designed to promote and sell a product or service. “we use a number of marketing strategies to grow our business”
What is a strategic business plan?
A strategic plan is typically focused on mid to long-term goals and explains the basic strategies for achieving them
What is a corporate business plan?
An internal business planning tool that translates priorities into operations within the resources available. The plan details the services, operations and projects a business will deliver within a defined period.
How does the management of your company ensure that you are making a profit?
- Timesheets
- Using resource planners
- Fee/cost reconciliation
- Team meetings
- Performance reviews
What would you include within a business plan?
- Executive Summary
- Marketing Strategy
- Management team and personnel
- Financial forecasts
- Responsibilities and targets
- Training, resource strategy and hierarchy plans
- Future office requirements
- SWOT analysis
