HB1 · 3 Business and entrepreneurship mind map

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HB1 · 3 Business and entrepreneurship mind map

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Planning and finance 1

Business plan: A plan connects objectives, resources and evidence.
Objectives and resources: Measure objectives against actual capacity.
Sources of finance: Compare finance cost, control and repayment.
Revenue, costs and profit: Revenue minus total costs gives profit.

Planning and finance 2

Worked cash budget: £600 + £1,800 − £1,450 = £950 closing cash.
Using a forecast: Test assumptions and review actual cash.

Marketing 1

Marketing and retention: The whole customer experience supports retention.
Segmentation and objectives: Relevant needs guide inclusive targeting.
Product and price: Features create benefits; price must support viability.
Place and promotion: Match access and communication to the target market.

Marketing 2

Primary and secondary research: Collection source differs from data type.
Analysing findings: Interpret the sample and acknowledge limitations.
Mass and niche markets: Market size and specialisation change opportunities and risks.
Truthful promotion: Evidence and clear conditions protect trust.

Connections

Planning and finance 1 → Planning and finance 2: Objectives and finance assumptions determine projected cash for review.