IB Business Management Topic Business Plan Revision Notes (SL/HL)

IB Business Management Topic Business Plan Revision Notes (SL/HL) | RevisionDojo

Written by official IB examiners

A Business Plan Is a Roadmap for Success

You're starting a business.
How do you convince investors to fund your idea?
How do you ensure your team is aligned with your goals?

This is where a business plan comes in.

Definition

Business plan

A business plan is a formal document that outlines a business's objectives, strategies, market analysis, and financial projections.

Why Is a Business Plan Important?

Securing Investment: Investors and banks want to see a clear plan before committing funds.
Strategic Direction: It helps businesses set and track goals.
Operational Guidance: A business plan ensures all team members understand their roles and responsibilities.

Key Components of a Business Plan

1. Executive Summary

The executive summary is a brief overview of the entire business plan.

Note

It should be concise and compelling, highlighting the most critical points.

Tip

Write the executive summary last, even though it appears first.
This ensures it accurately reflects the entire plan.

What to Include

Business Idea: What problem does your business solve?
Objectives: What are your short-term and long-term goals?
Key Financials: Highlight expected revenue, profit, and funding needs.
Unique Selling Proposition (USP): What makes your business stand out?

Example

A startup developing a mobile app for mental health support might highlight its unique AI-driven features and a partnership with healthcare providers.

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Definition

Paywall

(on a website) an arrangement whereby access is restricted to users who have paid to subscribe to the site.

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Lorem ipsum dolor sit amet, consectetur adipiscing elit. Sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat.

Duis aute irure dolor in reprehenderit

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Note

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Excepteur sint occaecat cupidatat non proident

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Tip

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat.

Lorem ipsum dolor sit amet, consectetur adipiscing elit.
Sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.
Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris.
Duis aute irure dolor in reprehenderit in voluptate velit esse cillum.

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A Business Plan Is a Roadmap for Success

You're starting a business.
How do you convince investors to fund your idea?
How do you ensure your team is aligned with your goals?

This is where a business plan comes in.

Definition

Business plan

A business plan is a formal document that outlines a business's objectives, strategies, market analysis, and financial projections.

Why Is a Business Plan Important?

Securing Investment: Investors and banks want to see a clear plan before committing funds.
Strategic Direction: It helps businesses set and track goals.
Operational Guidance: A business plan ensures all team members understand their roles and responsibilities.

Key Components of a Business Plan

1. Executive Summary

The executive summary is a brief overview of the entire business plan.

Note

It should be concise and compelling, highlighting the most critical points.

Tip

Write the executive summary last, even though it appears first.
This ensures it accurately reflects the entire plan.

What to Include

Business Idea: What problem does your business solve?
Objectives: What are your short-term and long-term goals?
Key Financials: Highlight expected revenue, profit, and funding needs.
Unique Selling Proposition (USP): What makes your business stand out?

Example

A startup developing a mobile app for mental health support might highlight its unique AI-driven features and a partnership with healthcare providers.

Definition

Paywall

(on a website) an arrangement whereby access is restricted to users who have paid to subscribe to the site.

anim nostrud sit dolore minim proident quis fugiat velit et eiusmod nulla quis nulla mollit dolor sunt culpa aliqua

Duis aute irure dolor in reprehenderit

Note

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam quis nostrud exercitation.

Excepteur sint occaecat cupidatat non proident

Tip

Lorem ipsum dolor sit amet, consectetur adipiscing elit.
Sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.
Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris.
Duis aute irure dolor in reprehenderit in voluptate velit esse cillum.

Unit 1: Introduction to Business Management - Core operational components and business functions6 subtopics

Unit 2: HR Management - Motivation, Structure, Hierarchy7 subtopics

Unit 3: Financial Management - Accounting, Ratio evaluation, Core Financial Documents9 subtopics

Unit 4: Marketing Management - The 7 P's, strategies and forecasting6 subtopics

Unit 5: Operations Management - Production Methods, Production planning and management9 subtopics

BM Toolkit - Core business frameworks and tools15 subtopics

IB Business Management Business Plan Notes

Unit 1: Introduction to Business Management - Core operational components and business functions6 subtopics

Unit 2: HR Management - Motivation, Structure, Hierarchy7 subtopics

Unit 3: Financial Management - Accounting, Ratio evaluation, Core Financial Documents9 subtopics

Unit 4: Marketing Management - The 7 P's, strategies and forecasting6 subtopics

Unit 5: Operations Management - Production Methods, Production planning and management9 subtopics

BM Toolkit - Core business frameworks and tools15 subtopics

A Business Plan Is a Roadmap for Success

Why Is a Business Plan Important?

Key Components of a Business Plan

1. Executive Summary

What to Include

anim nostrud sit dolore minim proident quis fugiat velit et eiusmod nulla quis nulla mollit dolor sunt culpa aliqua

Duis aute irure dolor in reprehenderit

Excepteur sint occaecat cupidatat non proident

Unlock the rest of this chapter with a free account

A Business Plan Is a Roadmap for Success

Why Is a Business Plan Important?

Key Components of a Business Plan

1. Executive Summary

What to Include

anim nostrud sit dolore minim proident quis fugiat velit et eiusmod nulla quis nulla mollit dolor sunt culpa aliqua

Duis aute irure dolor in reprehenderit

Excepteur sint occaecat cupidatat non proident

Unlock the rest of this chapter with a free account