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16 Cards in this Set
- Front
- Back
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Enterprise |
Any business or company |
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SME |
Small to medium enterprise |
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A need... |
Is a thing you need to survive |
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A want... |
Something you would like to have but do not need to survive |
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Qualities of an entrepreneur |
. Understanding of the market . Determination . Organised . Leadership skills |
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Roles of an entrepreneur |
. Organise resources . Takes risks . Make business decisions |
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Economic sector |
Primary. Extracting raw materials from the ground |
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Economic sector |
Secondary. Manufacturing goods |
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Economic sector |
Tertiary. Services etc taxi driving |
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What is a business plan |
A step by step guide of what a business is going to do |
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Marketing plan |
Based on both field and desk research - market research |
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HR plan |
Number of employees the skills experience and qualifications that are required |
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Operations plan |
Details for where business is located production method equipment needed and cost of production |
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Financial plan |
Break even analysis Profit and loss balance forecast for end of year Cash flow forecast for the first year |
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Advantages of a business plan |
Clear instructions Check progress Monitor cash flow |
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Disadvantage of a business plan |
Difficult to predict Lead to false hope |
