Page 122 - Business_Studies_F5

Student's Book Form Five

5. Industrial analysis focuses on the internal and external aspects of the proposed
business. The internal aspects are the strengths and weaknesses whereas the
external ones include the opportunities and threats or challenges.

6. Market assessment evaluates the key success factors, profile of customers and
FOR ONLINE READING ONLY
competitors.
7. A marketing plan includes the marketing objectives, product description,
pricing, promotion, distribution, strategies and predicted expenditure.

8. An operations plan contains the basic information on the rationale of business
location, size of the area required, premises, facilities, and equipment needed.
In addition, it includes raw materials, labour requirements, utilities, production
and delivery plans.

9. A management and organisation plan presents the organisation structure,
qualifications of the various categories of staff, job description, and salaries
or remunerations of the key positions.

10. A financial plan outlines the funds needed, sources of funds and expected
financial performance by providing details on the income statement, statement
of financial position, and cashflow statement.

Revision exercise

1. What are the possible sources of business ideas?

2. Describe the criteria used in ranking business ideas.
3. What are the key aspects to consider when screening business ideas?

4. Being an expert in business planning, you have been invited by Tanzania
Chamber of Commerce, Industry and Agriculture (TCCIA) to address owners
of Medium Enterprises (MEs) who argued against developing a business plan.
They stated that developing a business plan is a tedious exercise that is time
consuming and wastage of resources. Prepare a presentation that explains how

you would address them on why they should embark on developing a business
plan.

113 Business Studies for Advanced Secondary Schools

30/06/2024 19:02:39
Business Studies FORM 5.indd 113 30/06/2024 19:02:39
Business Studies FORM 5.indd 113