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Economic and management sciences

Grade 6

The business plan

Module 7

What is a business plan?

"Plan your work and work your plan. If you fail to plan, you plan to fail."

Ancient entrepreneurial truth

It is true that many successful business people managed to develop successful businesses without much planning. If they could do it, we might also manage it.

Let us look at the simple example of having a barbecue. It may be possible to braai without any equipment, but to do so with the help of a grid and a pair of braai tongs is much easier and certainly less painful. Using the appropriate tools simply improves our chances of success.

What is a business plan?

It is a document drawn up by an entrepreneur to indicate the nature of the business and the steps to be taken to develop it into a successful business . It is like a textbook or road map against which an entrepreneur can measure or test himself/herself continually to determine whether he or she is on the right track. There are three particular reasons why it is important for such a businessperson to draw up a sound business plan.

  • It gives the prospective businessperson an idea of whether he/she actually wants to become involved with the specific type of business.
  • The business plan should indicate danger zones.
  • It serves as a continuous measure for the entrepreneur to control whether he/she is on track.
  • It is a useful document for external parties, like banks, to determine whether they want to / can become involved with the business.

What information should be summarised in a business plan?

A business plan should provide basic answers to the following questions:

Who would be interested to pay for the product or service?

Why should they want to have it?

How would the product or service be promoted?

What will the marketing costs be?

Who will produce/deliver the product/service and what will the costs be?

How would the business be organised and managed?

Where would the money be obtained to start the business?

Will the business be profitable?

Assessment

Learning Outcomes(LOs)
LO 4
ENTREPRENEURIAL KNOWLEDGE AND SKILLSThe learner will be able to demonstrate entrepreneurial knowledge, skills and attitudes.
Assessment Standards(ASs)
We know this when the learner :
4.2 identifies a variety of possible business opportunities in the community (school co-operatives, sports, entertainment, tourism);
4.3 designs an advertising campaign to promote a product that will generate a profit;
4.4 participates in a fair or market day at school or in the community to practice and apply entrepreneurial knowledge and skills;
4.5 describes how the four elements of the marketing mix are combined in a simple business activity.

Questions & Answers

show that the set of all natural number form semi group under the composition of addition
Nikhil Reply
explain and give four Example hyperbolic function
Lukman Reply
_3_2_1
felecia
⅗ ⅔½
felecia
_½+⅔-¾
felecia
The denominator of a certain fraction is 9 more than the numerator. If 6 is added to both terms of the fraction, the value of the fraction becomes 2/3. Find the original fraction. 2. The sum of the least and greatest of 3 consecutive integers is 60. What are the valu
SABAL Reply
1. x + 6 2 -------------- = _ x + 9 + 6 3 x + 6 3 ----------- x -- (cross multiply) x + 15 2 3(x + 6) = 2(x + 15) 3x + 18 = 2x + 30 (-2x from both) x + 18 = 30 (-18 from both) x = 12 Test: 12 + 6 18 2 -------------- = --- = --- 12 + 9 + 6 27 3
Pawel
2. (x) + (x + 2) = 60 2x + 2 = 60 2x = 58 x = 29 29, 30, & 31
Pawel
ok
Ifeanyi
on number 2 question How did you got 2x +2
Ifeanyi
combine like terms. x + x + 2 is same as 2x + 2
Pawel
x*x=2
felecia
2+2x=
felecia
Mark and Don are planning to sell each of their marble collections at a garage sale. If Don has 1 more than 3 times the number of marbles Mark has, how many does each boy have to sell if the total number of marbles is 113?
mariel Reply
Mark = x,. Don = 3x + 1 x + 3x + 1 = 113 4x = 112, x = 28 Mark = 28, Don = 85, 28 + 85 = 113
Pawel
how do I set up the problem?
Harshika Reply
what is a solution set?
Harshika
find the subring of gaussian integers?
Rofiqul
hello, I am happy to help!
Shirley Reply
please can go further on polynomials quadratic
Abdullahi
hi mam
Mark
I need quadratic equation link to Alpa Beta
Abdullahi Reply
find the value of 2x=32
Felix Reply
divide by 2 on each side of the equal sign to solve for x
corri
X=16
Michael
Want to review on complex number 1.What are complex number 2.How to solve complex number problems.
Beyan
yes i wantt to review
Mark
use the y -intercept and slope to sketch the graph of the equation y=6x
Only Reply
how do we prove the quadratic formular
Seidu Reply
please help me prove quadratic formula
Darius
hello, if you have a question about Algebra 2. I may be able to help. I am an Algebra 2 Teacher
Shirley Reply
thank you help me with how to prove the quadratic equation
Seidu
may God blessed u for that. Please I want u to help me in sets.
Opoku
what is math number
Tric Reply
4
Trista
x-2y+3z=-3 2x-y+z=7 -x+3y-z=6
Sidiki Reply
can you teacch how to solve that🙏
Mark
Solve for the first variable in one of the equations, then substitute the result into the other equation. Point For: (6111,4111,−411)(6111,4111,-411) Equation Form: x=6111,y=4111,z=−411x=6111,y=4111,z=-411
Brenna
(61/11,41/11,−4/11)
Brenna
x=61/11 y=41/11 z=−4/11 x=61/11 y=41/11 z=-4/11
Brenna
Need help solving this problem (2/7)^-2
Simone Reply
x+2y-z=7
Sidiki
what is the coefficient of -4×
Mehri Reply
-1
Shedrak
A soccer field is a rectangle 130 meters wide and 110 meters long. The coach asks players to run from one corner to the other corner diagonally across. What is that distance, to the nearest tenths place.
Kimberly Reply
Jeannette has $5 and $10 bills in her wallet. The number of fives is three more than six times the number of tens. Let t represent the number of tens. Write an expression for the number of fives.
August Reply
What is the expressiin for seven less than four times the number of nickels
Leonardo Reply
How do i figure this problem out.
how do you translate this in Algebraic Expressions
linda Reply
why surface tension is zero at critical temperature
Shanjida
I think if critical temperature denote high temperature then a liquid stats boils that time the water stats to evaporate so some moles of h2o to up and due to high temp the bonding break they have low density so it can be a reason
s.
Need to simplify the expresin. 3/7 (x+y)-1/7 (x-1)=
Crystal Reply
. After 3 months on a diet, Lisa had lost 12% of her original weight. She lost 21 pounds. What was Lisa's original weight?
Chris Reply
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Source:  OpenStax, Economic and management sciences grade 6. OpenStax CNX. Sep 08, 2009 Download for free at http://cnx.org/content/col11013/1.1
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