Topic study hub
Business planning
Study why businesses plan, what plans contain and how cost, revenue, profit and loss support business decisions.
5
Objectives
10
Flashcards
10
Questions
90 min
Study time
AqaGcseBusinessBusiness in the real world
Choose a revision tool
Start revising Business planning
Syllabus checklist
What you need to know
5 objective pages available
Purpose and sections of business planning3 objectives
- Explain why businesses create plans, including setting up a new business, raising finance, setting objectives and organising business functions.
- Identify the main sections of a business plan.
- Analyse the benefits and drawbacks of business planning.
Basic financial terms2 objectives
- Distinguish variable costs, fixed costs and total costs.
- Explain revenue, costs, profit and loss in a business planning context.
Key terms
functionsfinancebusiness planIdentifyAnalysevariable costsfixed costsrevenueprofit
Exam tips
- Purpose and sections of business planning exam tip 1: Use precise subject-specific vocabulary when you explain how to explain why businesses create plans, including setting up a new business, raising finance, setting objectives and organising business functions..
- Purpose and sections of business planning exam tip 1: Use precise subject-specific vocabulary when you explain how to identify the main sections of a business plan..
Common mistakes
- Purpose and sections of business planning common mistake 1: Answer by clearly explaining how to explain why businesses create plans, including setting up a new business, raising finance, setting objectives and organising business functions..
- Purpose and sections of business planning common mistake 1: Answer by clearly explaining how to identify the main sections of a business plan..
Practice preview
- CraftCrate serves premium buyers while launching a product; the case evidence includes labour productivity of ?8,784, sales of 944 units, and a 25% change in costs or demand. Which option best applies Explain why businesses create plans, including setting up a new business, raising finance, setting objectives and organising business functions?
- MetroMove serves commuters while opening a second outlet; the case evidence includes net profit margin of ?2,531, sales of 926 units, and a 36% change in costs or demand. Which option best applies Explain why businesses create plans, including setting up a new business, raising finance, setting objectives and organising business functions?
- Harbour Hire serves small retailers while taking a loan; the case evidence includes capacity utilisation of ?9,094, sales of 279 units, and a 29% change in costs or demand. Which option best applies Explain why businesses create plans, including setting up a new business, raising finance, setting objectives and organising business functions?
Continue by objective
Objectives are grouped by subtopic so students can jump straight to the exact skill they want to revise.
Related topics