What is usually the first section of a business plan?
Business aims and objectives
Revenue forecast
Business idea
Which of the following is not an element that is included in a business plan?
Marketing mix
Stock market price
Sources of finance
Which of these stakeholders might be interested in seeing a business plan?
Bank
Local community
Pressure groups
What acronym is used when creating business objectives?
SWOT
SMART
PESTLE
How can a business plan be used to minimise risk for a business?
It tells an entrepreneur exactly how much profit they will make
It shows an entrepreneur how many products they will definitely sell
It allows an entrepreneur to make informed decisions about their business
What are the four elements of the marketing mix?
Product, price, place and promotion
Product, profit, place and promotion
Product, price, payments and promotion
Why would a bank primarily be interested in seeing a business plan?
To determine whether a business would be able to pay back a grant or mortgage
To determine whether a business would be able to pay back a loan or mortgage
To check a business’ aims and objectives
Other than a bank, who else would want to see a business plan?
A potential investor
A customer
A supplier
Which of these business elements is not a major part of a business plan?
Location
Product portfolio
What two main categories of research might a business undertake in order to complete a business plan?
Primary and secondary research
Secondary and tertiary research
Primary research and surveys