3.1.6 Business Planning
- understand the reasons why businesses create plans, including importance in setting up a new business, raising finance, setting objectives and detailing how functions of a business will be organised
- understand the main sections of a business plan
- analyse the benefits and drawbacks of business planning
- understand the difference between variable costs, fixed costs and total costs
- understand the concept of revenue, costs, profit and loss
Video from Dragon's Den
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Business Plan - BBC Bitesize video on raising finance - Strategy Theory - Slideshow for Business Planning
Slideshow on the difference between fixed and variable costs - BBC Bitesize video on costs of a business - re-cap quiz : Fixed or Variable - BBC Bitesize webpage on revenue, cost and profit
Past Exam Questions
Have a go at the questions from past exam papers below.
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Mark Scheme for past exam questions
Only use the mark scheme once you have had a go at the answers.
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