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JSS3: BUSINESS STUDIES - 2ND TERM

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  1. Setting Simple Business Goals | Week 1
    3 Topics
    |
    1 Quiz
  2. Simple Single Business Plan | Week 2
    2 Topics
    |
    1 Quiz
  3. Consumer Protection Agencies | Week 3
    8 Topics
    |
    1 Quiz
  4. How to make Complaints | Week 4
    3 Topics
    |
    1 Quiz
  5. Reasons and Procedures for Banning and Restricting Chemicals not Suitable for Use | Week 5
    4 Topics
    |
    1 Quiz
  6. How to Seek Redress | Week 6
    3 Topics
    |
    1 Quiz
  7. Personal Finance | Week 7
    7 Topics
    |
    1 Quiz
  8. Trial Balance | Week 8
    3 Topics
    |
    1 Quiz
  9. Trading, Profit and Loss | Week 9
    2 Topics
    |
    1 Quiz
  10. Balance Sheet | Week 10
    1 Topic
    |
    1 Quiz
  11. Business Letters | Week 11
    2 Topics
    |
    1 Quiz
  12. Simple Tabulation - Table Creation | Week 12
    4 Topics
    |
    1 Quiz
  13. Manuscript Abbreviations and Erasing Technique | Week 13
    3 Topics
    |
    1 Quiz



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Business plan - Business studies jss3

Definition of Business Plan:

A business plan is a road map that helps direct a company to success. It describes all aspects of the business, including history, products, services, marketing, and finance.

Features of a Good Business Plan:

Vision: A good business should outline the vision of the business. This can be done by answering these questions. What are you creating? What will your business look like in one year, three years, and five years?

Mission: The business plan should state the organization’s mission that is, stating the purpose of starting the business.

Strategies: Business strategies should be clearly stated. This can be achieved by answering these questions; how are you going to build your business? What will you sell? What is your unique selling proposition (i.e. what makes your business different from the competition).

Startup Capital: The estimated monthly, quarterly and yearly income after the launch should be stated.

Objectives: The plan should state the overall objectives to be achieved in doing so, it is important to start by stating the most important objectives before the least ones.

Income: Estimated business income should be monthly, quarterly and yearly. Income after the launch should be stated.

For Example:

Year 1:₦2,000,000
Year 2:₦5,000,000
Year 3:₦10,000,000

Expenses: The estimated business expenses on a monthly, quarterly, and yearly basis should be clearly stated.

Action plan: Create an action plan by answering the following questions

  • What are the specific actions, items, and tasks that should be completed now?
  • What are the future milestones of the business?
  • What you will need to accomplish those milestones in order to meet the business objectives?

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