planning Flashcards
1
Q
uncertainity
A
businesses are unable to predict external shocks to business e.g recession
2
Q
contingency plan
A
plan of action is something goes wrong
3
Q
aim
A
long term goal
4
Q
objective
A
short term target to help achieve aim
5
Q
opportunity cost
A
the cost of missing out on the next best thing
6
Q
who may need to see a business plan
A
investors
bank
manager
shareholders
7
Q
how can a business plan attract potential investors
A
persuades them profit can be made
8
Q
what does a business plan include
A
all about owner what is being sold target customers competition how to contact customers expenditure details financial predictions contingency plan
