Title: Explain the requirements of financial planning.
Course: Fashion Careers I (19201-36) > Section: Exploring the Marketing of Fashion

Explanation should include a six-month plan covering

- sales
- inventory
- markups
- markdowns
- purchases
- gross margin and turnover.

Process/Skill Questions

Thinking

- Why is it important to have a six-month plan?
- How does one develop and present a six-month plan in the fashion industry?

Communication

- How might the fashion industry professional report a six-month plan to help with career advancement, and to whom should the plan be reported?
- How do stores communicate markdowns?
- How do stores communicate sales?

Leadership

- How can a fashion retailer become a leader in the industry?
- How can leadership improve profits?

Management

- What are ways management can improve profits? What are ways management can hurt profits?
- How can a fashion retailer become a leader in the industry?
- Where might one seek additional guidance in preparing a six-month plan?