Unit 1 AOS 2 KK10

Question 1

Business plan

Answer 1

a written statement of the goals and objectives for a business, and the steps to be taken to achieve them.

Question 2

Planning

Answer 2

a process, a series of actions to achieve an objective.

Question 3

Benefits

Answer 3

• Helps test the viability of the business
  
  • Assists the business to be proactive rather than reactive
  • Assists in maintaining the business operation especially focusing attention on the goals and objectives
  • Indicates the owners ability and level of commitment
  • Forces the business owner to justify his or her plans and actions
  • Identifies the business’s strengths and weaknesses