Business Planning (Level 1) Flashcards
What is a business plan?
A document setting out a business’s future objectives and strategies for achieving them
How has BP contributed to achieving objectives of your office?
What is the primary business objective of your organization?
To make money
Give examples of BP
What types of firm or company exist in the UK? What type is your firm?
What is a - conventional Partnership, LLP, Ltd. company, PLC, etc?
LLP - Limited liability partnership - All partners have limited liability
Ltd - Shareholders only responsible only up to the amount they invested in the firm and cannot be held responsible for any loses
PLC - shares are traded publicly
What is your firm’s mission statement?
How would you describe your firm’s business ethos?
What are your firm’s corporate objectives?
What information would a business plan typically contain?
How do business planning activities contribute to your firm’s success?
How do you ensure you are meeting your firm’s objectives?
What is you role within the firm and how do you ensure compliance with ethos etc?
