AS Business Studies: Developing Business Plans

Hey, here are some notes mainly for people taking the AQA AS Business Studies Unit 1 exam but can probably be used for other exams too! All the notes meet the specification requirements. I hope this helps you to revise! Please rate and comment on how to improve :D

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  • Created by: I P B
  • Created on: 13-11-10 21:17
Preview of AS Business Studies: Developing Business Plans

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Developing Business
Plans

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Specification
Developing Business Plans Candidates should be aware of
· the purpose and contents of the benefits and problems of
business plans plans/planning for small
· sources of information and businesses.
guidance. The planning process involves
decisions based on the
resources to be used and
factors providing competitive
advantage.
The sources of information
should include: small business
advisors, accountants, bank
managers and government
agencies.…read more

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Purpose of Business Plans
The purposes of a business plan are that:
­ Provides a focus on the business idea - is it really good and why?
­ Helps clarify thoughts and identify gaps in information
­ Provides a logical structure to thinking about the business
­ Encourages the entrepreneur to focus on what the business is really about
and how customers and finance-providers can be convinced
­ Helps test the financial viability of the idea - can the business achieve the
required level of…read more

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Contents of a Simple
Business Plan
A simple business plan
The simple business plan is rarely shown to outsiders of the business. It is written
by the entrepreneur, for the entrepreneur. The simple plan helps summarise the
key aims and targets of the business and the actions required to make the business
a reality. It is likely to be written in quite an informal way.…read more

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Contents of a Detailed
Executive
Business Plan
Brief 1-2 page summary ­ the key issues. Should contain nothing new, but
summary highlight the key points
Market Profile of the target market segment based on market research
Product What it is and how it is differentiated from existing products in the market
(the "unique selling point")
Competition Honest description of the competition in the target market - strengths /
weaknesses and likely response
Protecting How the product and business can be protected from competition - e.g.…read more

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Exam Tips
Remember that a business plan isn't just written to raise finance. It plays an
important role in the whole start-up process.
A start-up's business plan needs to be flexible. The figures are bound to change
once the business starts trading and the entrepreneur discovers what the market
is really like.
A good business plan provides a focus and a discipline for the entrepreneur.
However, it is no substitute for what really matters to make the business a success
- i.e.…read more

Comments

davidsalter

This is a 6 page summary on the benefits, drawbacks and contents of a business plan. Students can use this as their notes and adapt it for revision purposes.

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