The Business Plan (VCE SSCE Business Management): Flashcards
📚Flashcards
Practise the cards
10 cards from this deck
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Practise the cards
10 cards from this deck
Business plan definition
Business plan definition
Formal document outlining goals, direction & strategies
Living document (business plan context)
Living document (business plan context)
Constantly evolves as business & environment change
Recommended business plan review frequency
Recommended business plan review frequency
Annually
Executive summary maximum length
Executive summary maximum length
No more than one page
Number of key sections in comprehensive business plan
Number of key sections in comprehensive business plan
11 sections
Mission statement purpose
Mission statement purpose
Shows what business aims to offer market & aspirations
WorkCover insurance
WorkCover insurance
Compulsory cover for employees injured at work
Quality control approach
Quality control approach
Reactive - checks goods/services against standards
SWOT analysis components
SWOT analysis components
Strengths, Weaknesses, Opportunities, Threats
Profit vs cash flow key difference
Profit vs cash flow key difference
Business can be profitable but still fail without cash