Business Planning Good Questions

Question 1

What would you include in a business plan if you were setting up on your own?

Answer 1

1. Executive Summary
2. Business description
3. Market analysis and strategy
4. Marketing and sales plan
5. Analysis of competition
6. Operating plan
7. Detail of company structure
8. Financial analysis
9. Objectives or goals
10. Summary of strategy

Question 2

What is your company’s marketing plan?

Answer 2

1. Market via website
2. Market via word of mouth
3. Market via signposting / advertising on trains etc.

Question 3

What are the objectives of your company’s business plan?

Answer 3

1. Meet customers needs
2. Deliver financial sustainability
3. Contribute to long-term economic growth
4. Levelling up and connectivity
5. Delivering environmental sustainability.

Question 4

How would a business measure its performance against its business plan?

Answer 4

• KPI’s (quantifiable measures of performance over time for a specific objective).
• Help a business track progress and identify trends
• Keeps business focused on the right goals