Sem 1 Week 2b

Question 1

What is a business plan?

Answer 1

It is a written document that describes the business, its objectives, its strategies, the market it is in and its financial forecast

Question 2

What are the functions of a business plan?

Answer 2

-describing the innovative product offering
-funding for business start up to measuring success within your business proposition

Question 3

What is the aim to a business plan?

Answer 3

to evaluate the feasibility of a business

Question 4

What should a business plan be?

Answer 4

-complete & concise: tackling all essential areas
-understandable to non experts
-Realistic, based on well-defined assumptions
-Well-structured

Question 5

What questions should the reader of the business plan be able to answer once reading the document?

Answer 5

1.What is going to be produced?
2.How many quantities are going to be produced?
3.Where is it going to be produced?
4.Who is going to be the customer of the product?
5.How is the product going to be offered to customers?

Question 6

What is in the business plan outline?

Answer 6

-Executive summary
-Products & services
-Market Analysis
-Competition
-Marketing & Sales
-Operators
-Milestones & metrics
-Company Overview
-Financial Plan
-Appendix