Business Planning - Lesson

A full lesson delivered in a way to ensure student understanding.

This lesson will meet the following learning objectives:

Students should be able to:

• analyse the benefits and drawbacks of business planning
• understand the reasons why businesses create plans, including importance in setting up a new business, raising finance, setting objectives and detailing - - how functions of a business will be organised
• understand the main sections of a business plan
• understand the difference between variable costs, fixed costs and total costs
• understand the concept of revenue, costs, profit and loss.