Business planning (AQA GCSE Business): Quizzes
📚Quizzes
Practise the questions
12 questions from this quiz
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Practise the questions
12 questions from this quiz
What saying highlights the importance of business planning?
What saying highlights the importance of business planning?
Failing to plan is planning to fail
What is a business plan?
What is a business plan?
Written doc: objectives, strategies, market
What does a business plan test for start-ups?
What does a business plan test for start-ups?
Financial viability & profitability
Why do start-ups need business plans?
Why do start-ups need business plans?
To secure funding & identify cash issues
How do existing businesses use business plans?
How do existing businesses use business plans?
Review performance & coordinate departments
What timeframe should business objectives typically cover?
What timeframe should business objectives typically cover?
3-4 years
What financial info must a business plan include?
What financial info must a business plan include?
Money needed, owner funds, borrowing
What should a market overview in a business plan include?
What should a market overview in a business plan include?
Customer segments, size, growth, competitors
What forecasts are crucial in a business plan?
What forecasts are crucial in a business plan?
Cash flow & revenue/costs/profits
What is a key advantage of business planning?
What is a key advantage of business planning?
Reduces risk via structured guidance
What is a disadvantage of business planning?
What is a disadvantage of business planning?
Requires constant updating; time-consuming
How do some businesses operate without detailed plans?
How do some businesses operate without detailed plans?
Using 'gut instinct' & experience