The plan sets out a firm’s objectives and shows in a systematic way how it will approach marketing, operations, finance, management and control. It also includes details of key personnel and covers strengths, weaknesses, threats and portunities. The FSA sees syndicate business plans as central to the ability of Lloyd’s to control and monitor the activities of managing agents. Consequently the FSA monitors the way in which Lloyd’s monitors syndicate business plans. Business plans are also required from intermediaries seeking FSA authorisiation. See LLOYD’S BUSINESS PLAN; FRANCHISE; FRANCHISE BOARD. most