When is a business plan usually written, and when should it be updated?
It compares actual sales and costs with the forecast, allowing early action when there is a shortfall.
It is written before trading and updated as the business grows or costs and customers change.
A new competitor, rent rise or change in customer preferences can make a plan go out of date.
A business plan provides a reference point by comparing actual results with the forecast.
1.6.1 Purpose of business planning Flashcards
Flashcards for AQA GCSE Business 1.6.1 Purpose of business planning, covering the key terms, formulae and case studies you need to recall for Paper 1 and Paper 2. 20 cards, matched to the AQA GCSE Business (8132) specification. Recall questions account for roughly 35% of marks at GCSE Business, so these target the marks you can secure before the paper starts.