Page 121 - Business_Studies_F5

Student's Book Form Five

Task 6.13

Prepare a comprehensive business plan for a business of your choice.

FOR ONLINE READING ONLY
Exercise 6.2

1. What constitutes an operations plan as part of the business plan?
2. Identify and discuss the components of a well-packaged business plan.
3. What would you consider important in developing a management and organisation
plan for a business?

Project work

You have noted that the majority of the medium-sized business owners lack
skills for writing a business plan. Prepare a business plan training checklist for
the business owners.

Chapter summary

1. In ranking the business ideas, it is important to consider several factors including
market availability, uniqueness of the product or idea, compatibility of the idea
with legal requirements and promoter’s capability to manage the proposed
business and ability to raise the required capital for the business.

2. In mind mapping a business idea, it is important to use appropriate business
model such as Business Model Canvas (BMC).
3. The key components in developing the business plan are business description,
industrial analysis, market assessment, marketing plan, operations plan,
management and organisation plan and financial plan.

4. The business description component includes the business name, owners’
details, mission and vision, products, as well as legal status.

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