Research task 3

What is a business plan?

A business plan is document with all the goals for the business and how the business will achieve these goals. they would usually go into detail about the nature of the business and what it's about and what they do. It should go into detail about the companies future not just for goals they want to achieve. Things like, how you're going to finance things, how you manage your staff etc.

What is a business model?

A business model shows how a business creates their product and delivers it, it shows the the cycle of the business in question, from the concept of a product/service to the designing of said product/ service, to the launch and implementation. Knowing exactly how your business operates could be very helpful. 


A sustainable business model

A sustainable business model is a business model that can be sustained, there could be many factors to this, for example maybe a business wouldn't be sustainable if they use a non renewable source to make products, they would eventually run out of material and not be able to make any more products. Also the business wouldn't be sustainable if the market for the product/ service isn't consistent, there are many products that aren't around long because they capitalize on fads and things that don't trend for long. 





















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