Business’ can have constraints. A business plan needs to be realistic, so it is important to set out in detail the constraints that are likely to act as limits on business activity.
A constraint: is a factor that limits or holds back the possible success of a plan.
- The quality of direction and management. Directors and managers of a business need to have the right skills and abilities e.g. to create well structured plans, and to motivate and lead other members of the organisation. In creating a business plan you therefore need to identify the key constraints, and to set out plans for dealing with any pressing constraints.
The quality and skills of employees. The human resource is one of the most important resources of any organisation. It is essential to have the right number of people with the appropriate skills to enable the business to achieve its business objectives.
- Capital
- Credit
- Growth
- Time
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