Questions
Provide answers to all of the questions below:
1. Outline three reasons why a company may choose to develop a business plan.
2. Outline the key steps involved in developing a business plan.
3. Outline five common components of a business plan.
4. Outline three areas that the initial business planning process may address.
5. Outline the purpose of a SWOT analysis in a business planning process.
6. Describe the relationship between performance objectives and key performance indicators in a business plan.
7. Explain why it is important for a business to use a range of performance measures within its business plan.
8. If a business plan has an objective of improving customer satisfaction, describe three performance measures that could be used to measure customer satisfaction.
9. Outline key stakeholders who may be involved in business planning.
10. List the information that can be obtained from pre-existing strategic, business and operational plans when writing a new business plan (include at least 5).
11. Identify at least three regulations/permits requirements/licence requirements to consider when initiating a new business activity that may require a permit or licence.
