Business Planning and Business Plans

What this unit covers

The page is about why businesses plan and how a written plan is put together. Many of the mind maps break a plan into its parts. The map called Defining Business Plan asks what a plan is, why you would write one, and its advantages and disadvantages. Another Business Plan map stresses that the summary should be short, grab attention and sell your idea, your team and your background.

Where to start

Begin with the overview maps: Defining Business Plan, How to Write a Business Plan and Purpose and Contents of a business plan. Then move to a worked example. One map plans a riding venture with a mission statement and aims. New Business Introduction runs through company summary, marketing strategy, location, human resources and sources of finance such as grants and loans.

Tools and techniques

1. Use LCVP SWOT Analysis to see strengths and weaknesses applied to a real event.
2. Open the Location map for factors such as cost of land, government grants, utility bills and transport costs.
3. Look at the sales forecasting maps, plus Choosing the right forecasting technique and Why Forecasts Fail. What to Do Instead.
4. Read Planning for change for corporate plans and how they follow from internal strengths and weaknesses.

Maps, flashcards and quizzes together

Read a map first, then test yourself with the flashcards. Business Presentation Flash asks pitch questions such as key competitors and how to define TAM and SAM. Several decks follow a 1.6 planning topic. The exam mentions in the listed resources include GCSE Business, AQA Applied Business, A-level Business and IB. Finish with the Building a Business Plan quiz or business plan quiz to spot gaps.

Where it sits

This unit belongs to the Business Foundations strand of Business administration and management (incl. project management). Choose one resource now and see how far you get, then make your own version.