1.4 developing business plans (part 2)

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1.4 developing business plans (part 2)

  1. 1. Do NowWhat do you remember from ‘Developing Business Plans’ …. Test what you’ve learned!
  2. 2. Developing Business Plans (Part 2) Module 1 – Growing a Business Idea
  3. 3. Learning ObjectivesBy the end of this lesson you should be able to:1. Recognise and discuss problems for small business planning.2. Apply understanding of business plans and create based on business scenario.3. Discuss business plan with the rest of the group.
  4. 4. Problems for small businesses The entrepreneur may not feel that they have enough of this to devote to putting together a business plan. TIMELO1) Recognise and discuss problems for small business planning.
  5. 5. Problems for small businesses Although not obvious when creating a business plan, time could incur this. Advice and guidance could also use this resource. MONEYLO1) Recognise and discuss problems for small business planning.
  6. 6. Problems for small businesses The entrepreneur may lack enough of this to initially be able to construct a business plan. EXPERTISELO1) Recognise and discuss problems for small business planning.
  7. 7. Problems for small businesses Some people may feel that the time spent on a business plan is wasted when it could be spent actually trading. OPPORTUNITY COSTLO1) Recognise and discuss problems for small business planning.
  8. 8. Your challenge is to create a business plan for a given organisation. You are looking for an investment of Don’t forget to include £100,000. the sections: • Executive Summary You can present your business plan • Business Description using any format – so be creative!. • Product or service • Market Analysis Remember – you will need to pitch • Strategy and your plan to the potential investor. Implementation • Management TeamLO2) Apply understanding of business plans and create based on business scenario. • Financial Plan
  9. 9. Would you invest £100,000? You now need to observe each pitch and give it a score out of 90 using the set criteria. Would you be willing to invest £100,000?LO3) Discuss business plan with the rest of the group.
  10. 10. Real businesses in action!Go to your email andopen the Barclaysworksheet.Use the case study toanswer the questions.
  11. 11. Finally…..Create a question basedon todays lesson.Email it to your teacher.
  12. 12. Re-cap Learning ObjectivesYou should now be able to:1. Recognise and discuss problems for small business planning.2. Apply understanding of business plans and create based on business scenario.3. Present business plan with the rest of the group.

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