The nature of business planning (Edexcel GCSE Business): Quizzes
📚Quizzes
Practise the questions
12 questions from this quiz
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Practise the questions
12 questions from this quiz
How many core components should an effective business plan include?
How many core components should an effective business plan include?
Eight components
What does the 'S' in SMART objectives stand for?
What does the 'S' in SMART objectives stand for?
Specific
What are the four Ps in the marketing mix strategy?
What are the four Ps in the marketing mix strategy?
Product, price, place, promotion
What does market research identify in a business plan?
What does market research identify in a business plan?
Customers, market conditions, competitors
What must financial forecasts include?
What must financial forecasts include?
Costs, revenue, profit, cash flow, budget
How does thorough business planning affect risk?
How does thorough business planning affect risk?
Significantly reduces risks
What does the location section of a business plan specify?
What does the location section of a business plan specify?
Where business is based and why chosen
What does the production methods section describe?
What does the production methods section describe?
How products made or services delivered
Which benefit is NOT mentioned for good business planning?
Which benefit is NOT mentioned for good business planning?
Guarantees business profits
What does the sources of finance section explain?
What does the sources of finance section explain?
How business funded & where extra money from
How does a business plan help convince investors?
How does a business plan help convince investors?
Shows the business idea is viable
What can financial forecasts help identify?
What can financial forecasts help identify?
Cash flow problems before they're serious