The body of your business plan should cover several areas in detail. Business plans help to reduce risk and reassure stakeholders [Stakeholders: Research is costly and can seem like a poor use of time.
Include market and competitor information, outlining what part of the market you are targeting, key competitors and what differentiates you from them.
A good business plan will contain: A business plan is a report by a new or existing business that contains all of its research findings and explains why the firm hopes to succeed.
Profit is the reward for risk-taking. Poor planning is a major cause of business failure. A business plan includes the results of market research and competitor analysis. Include details of any finance provided by the founder or management team and indicate the key risks to the business and any mitigating action you can take.
All the people and groups who have an interest in a business. Some entrepreneurs ignore planning and analysis and instead rely on their gut instinct.
Larger businesses should also draw up a projected balance sheet. Details of key personnel and their relevant experience are also important, as is operational information like office location, special equipment and expected employee headcount.
They launch products they believe customers want and competitors cannot match. The involvement of a qualified accountant in preparing these forecasts is recommended. Give the reason for the business being established - include business goals, for example, whether ambitious growth is desired or a regular, steady trading level.
Analysis is when a business interprets information. Financial forecast Think about your sales and marketing strategy, include information on how the product or service will be priced, channels to market, advertising and marketing plans. Next Taking a calculated risk A new business starts out with few, if any, customers and is likely to face competition from existing firms.
An assessment of the competition Research to back claims and forecasts State the financing you need, based on your financial forecasts. The figures used must be reasonable - avoid being over optimistic. Drawing up a business plan forces owners to think about their aims, the competition they will face, their financial needs and their likely profits.This is the latest in the series of simplified marketing notes aimed at Learning Support students of GCSE Business Studies.
The notes cover the top TeachingBusiness/5(29). A secondary school revision video for GCSE Business Studies about business structures. May 13, · what is a business plan bbc bitesize What Is A Business Plan? GCSE Business Studies Unit 1 Revision - A Closer Look - Duration: Some of my earlier resources, for general GCSE Business Studies, hopefully everything has uploaded correctly but if it hasn't then please get in touch with me.
I am hoping that this gives you a starting point for your lesson and that you are able to eithe. Bitesize GCSE BUSINESS STUDIES BUSINESS STRUCTURE about a business plan is it’s a constantly evolving document so it’s always changing so now rather than that one plantation, we’ve got a network of plantations over quite a broad geographic area.
So. Home > GCSE > Business Studies > Business Plan Template Business Plan Template This is a template of a Business plan which shows you how to explain your business and also how to improve your business.Download