Page 90 - Bisiness Studies_Form_3
P. 90
Business Studies for Secondary Schools
(i) Product packaging; Revision exercise
(ii) Product benefits; 1. Choose the correct answer among
(iii) Price charged; the given alternatives in questions
(iv) Distribution plan; and (i) to (viii) and write its letter in
(v) Incentives needed for your exercise book.
FOR ONLINE READING ONLY
them to buy, and their (i) Identify the most essential step
willingness to buy from before starting any business.
you. (a) Find enough capital.
(c) Establish major
communication outlets (b) Build a business office.
(social media, traditional (c) Develop a business plan.
media, word of mouth) of (d) Purchase stocks.
your potential customers.
2. Use the information to write parts (ii) The primary purpose of a business
of your business plan, including plan is to .
your business idea, marketing (a) Outline the company’s
assessment, marketing plan, and marketing strategy
operations plan. (b) Provide a clear roadmap
3. Present to various stakeholders for starting, managing, and
(class members, entrepreneurs in growing a business
the area) (c) Secure a location for the
4. Use this feedback to revise and business
improve your business idea and (d) List the names of the
business plan. business owners
(iii) Identify the component of a
Chapter summary business plan that analyses the
weaknesses of competitors.
1. A business plan is a written (a) Market plan
document that explains in detail (b) Management and business
how a business is going to achieve organisation
its stated goals over a given period.
2. Components of a business plan (c) Competitive analysis
consists of the following: executive (d) Market assessment.
summary, business description, (iv) The following are examples of
market analysis, marketing plan, business gaps from competitors
operations plan, management and except .
organisation plan, financial plan, as
well as appendices.
Student’s Book Form Three 82
