List three of the main headings in a Business Plan: (Example: Production)
(i)
(ii)
(iii) - Leaving Cert Business - Question 10 - 2007
Question 10
List three of the main headings in a Business Plan: (Example: Production)
(i)
(ii)
(iii)
Worked Solution & Example Answer:List three of the main headings in a Business Plan: (Example: Production)
(i)
(ii)
(iii) - Leaving Cert Business - Question 10 - 2007
Step 1
(i) Description of business
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Answer
This section should provide a comprehensive overview of the business, including its objectives, target market, and the products or services it offers. Clearly articulate the business vision and mission, and explain what sets it apart from competitors.
Step 2
(ii) Description of owners/legal structure
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Answer
In this part, detail the ownership of the business, including information about the owners and any partners. Specify the legal structure (e.g., sole proprietorship, partnership, corporation) and how this structure influences the business operations and liability.
Step 3
(iii) Marketing Strategy/Marketing Mix
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Answer
Outline the marketing strategy, which covers how the business intends to attract and retain customers. Discuss the marketing mix, which includes the '4 Ps': Product, Price, Place, and Promotion. Describe how each element will be utilized to achieve the business goals.
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