Business planning (OCR GCSE Business): Quizzes
📚Quizzes
Practise the questions
11 questions from this quiz
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Practise the questions
11 questions from this quiz
What does a business plan outline?
What does a business plan outline?
Company goals & how to achieve them
Why does having a business plan make getting investors more likely?
Why does having a business plan make getting investors more likely?
Shows organised approach & clear strategy
How does a business plan reduce the risk of failure?
How does a business plan reduce the risk of failure?
Decisions based on research e.g. prices
What type of resources does a business plan help identify?
What type of resources does a business plan help identify?
Staff & machinery needed
What does the marketing plan section include?
What does the marketing plan section include?
Target audience & the 4Ps
What should a production plan cover?
What should a production plan cover?
Employees needed, pay & training
What is the break-even point in a finance plan?
What is the break-even point in a finance plan?
Products sold to cover costs
What does a cash-flow forecast estimate?
What does a cash-flow forecast estimate?
Likely income & expenditure for first year
What demographic factors help identify the market?
What demographic factors help identify the market?
Gender, age & income
What is a drawback of creating a business plan?
What is a drawback of creating a business plan?
Time-consuming, may miss opportunities
What error might inexperienced entrepreneurs make in a business plan?
What error might inexperienced entrepreneurs make in a business plan?
Over-predict revenues or under-predict costs