Business plans and models (Task 3)

What is a business plan?

A business plan is a formal written document, that sets out the goals for the company as well as timescales and aspirations for where the business can go. It also covers all the information on the business from finances to simple information on the business. in sense it can be used as a road map.  


What is a business model?

A business plan is a company's core strategy for profitably. There is three things that our the running costs, things like designs, materials and labour. Marketing costs from advitising to distribution of products. How the customers pay for things. In basics its covers the costs and expenses or a business.


What is meant by the term 'sustainable business model'?

A sustainable buisness model is one that has longevity and isnt just having a boom due to a trend. Every business wants to be sustainable meaning constantly making profit whilst also being able to adapt to certain trends that the consumer wants,like a common move at the moment is making businesses more enviromentaly friendly. 









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