AS Economics and Business Business plans Unit 1. By Mrs Hilton for revisionstation. Lesson objectives. To be able to discuss business plans To be able to answer a past paper question on business plans. Starter. Where do you want to be in 3 years time – do you have a plan?. Business plan.
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By Mrs Hilton for revisionstation
• Because this is a start-up business cash-flow management is crucial (1 mark application) to secure finance from a bank to show potential liquidity (1 mark knowledge) but bank statements are simply a record of transactions which do not indicate liquidity only a record on receipts and payments (1 mark analysis).
• Cash-flow forecasts are projections of receipts and payments for the window cleaner (1 mark application) which are required to convince a financier that the business will not suffer liquidity problems (1 mark knowledge) whereas a bank loans application will have already been made separate to the plan (1 mark analysis).
Knowledge 2, Application 2, Analysis 2
Knowledge: up to 2 marks are available for showing knowledge, e.g.
by candidates defining a business plan as a document designed to
provide information about a business proposal relating to such activities
as marketing and HR, also in order to gain finance, monitor
effectiveness, give direction, etc.
Application: up to 2 marks are available for relating the above to
Leisure Library, e.g. describing the marketing plans for the LL such as
advertising the service on A Sporting Chance’s website.
Analysis: up to 2 marks are available for the consideration of causes
for Mike to develop the business plan, e.g. to show potential lenders or
financiers, in this case MBCLC Community Club (accept local council)
why the business might succeed, OR in this case for example to check
that the aims of the LL (e.g. to provide a broad-based activity
portfolio) are being met.