Understanding Business Plans and Implications (Grade 10 NSC Matric Business Studies): Flashcards
📚Flashcards
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Practise the cards
10 cards from this deck
Competitive strategies
Competitive strategies
Actions businesses use to gain advantage over rivals
Strategy: Quality products benefit
Strategy: Quality products benefit
Customers trust & choose you over cheaper low-quality options
After-sales service examples
After-sales service examples
Tech support, repairs, maintenance, warranty, customer hotlines
Reasonable pricing means
Reasonable pricing means
Affordable for customers whilst making profit
Purpose of creative slogans
Purpose of creative slogans
Help customers remember your brand & stand out
Financial plan shows
Financial plan shows
Money needed, where from, expected profit/loss for ~3 years
Budget definition
Budget definition
Estimate of revenue & expenses over specific time period
Break-even point
Break-even point
Total sales exactly cover all expenses (no profit/loss)
Balance sheet shows
Balance sheet shows
What business owns (assets) & owes (liabilities)
Key formula for balance sheet
Key formula for balance sheet
Assets = Liabilities + Equity