Using a pencil, place a in each box to indicate how well you know and understand each Key Term. q I know and understand this Key Term. q I am still a bit uncertain about what this Key Term means. q I don’t understand this Key Term yet. When you revise each chapter, tick the boxes again to indicate how much you have learned.
Chapter Review ¸
1.
A business plan is a document setting out who is running the business, what goods or services will be produced, how they are going to be produced, how it is going to be marketed, where the business finance will come from, what sales are expected and how much profit is expected.
Key Concepts
1. What is a business plan? 2. Explain three reasons why a business plan is important. 3. List six sections that should appear in a business plan. 4. List five common reasons why businesses fail.
Critical Thinking Skills
1. A group of business people are discussing the idea of opening a zoo as a major tourist attraction in County Sligo. Prepare a one-page business plan for the zoo. Make whatever assumptions are necessary in your plan.
