Question detail
Harbour Hire serves business clients while changing promotion; the case evidence includes supplier lead time of ?6,752, sales of 577 units, and a 15% change in costs or demand. Recommend how the business should respond to Explain why businesses create plans, including setting up a new business, raising finance, setting objectives and organising business functions.
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At a glance
Question
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exam_style
Style
Topic
Business planning
Question
Harbour Hire serves business clients while changing promotion; the case evidence includes supplier lead time of ?6,752, sales of 577 units, and a 15% change in costs or demand. Recommend how the business should respond to Explain why businesses create plans, including setting up a new business, raising finance, setting objectives and organising business functions.
Answer
Structure the judgement carefully. Apply objectives, finance, functions to Harbour Hire serves business clients while changing promotion, then explain how the decision changes supplier lead time, costs, revenue, cash flow, or stakeholder outcomes. A balanced response considers both the benefit and the risk for managers, uses figures such as ?10,152 or 15%, and reaches a supported judgement based on the business objective.
Explanation
Start with the business context. This explanation is anchored to Purpose and sections of business planning and Business planning because it links the command word to scenario evidence, commercial reasoning, financial impact, and stakeholder consequences. It also separates revenue and profit, which helps the final judgement stay precise.
Common mistake
Purpose and sections of business planning common mistake 1
Giving a vague answer instead of directly addressing: Explain why businesses create plans, including setting up a new business, raising finance, setting objectives and organising business functions..
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..
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