What are the typical time frames for business planning?


. Why would a well-established firm take the risk of creating and launching a new

insurance firm with a completely new brand?


. To reduce the risk of failure, certain steps should be taken to develop a business idea

into a coherent strategy. Describe three or four steps that would feature in the



. When the strategy is agreed, what are the two main options available to senior

management in regard to staff resourcing?


. ‘Financial performance’ is one of the key measures in a business plan. What types of

stress tests are appropriate for this measure?