A01 - Introduction and Theory
1. Begin to outline your business plan including:
- Name
- Mission statement
- Location
- Physical size
- Ownership type
- Aims and objectives
2. Explain why a business plan needs to be created.
3. Explain the different stages of completing a business plan:
- Setting goals and objectives
- Ensuring the monitoring and reviewing of progress
- Persuading other stakeholders
4. Explain why a plan needs to include the following parts:
- Marketing: SWOT, PEST, Ansoff, Product Life Cycle, Boston Box
- Human Resources: No. of people needed, skills, recruitment methods, training employees.
- Financial: Sources of finance, budgets, break even, cash flow, profit & loss, balance sheets.
- Production: Quantity, machinery, quality & targets, stages and timing of production
5. Explain how the following constraints may affect your business plan, which you can also relate to the future of your own business:
- Legal
- Financial
- Social
- Environmental
- Technological
- Competitive
