1.2.9&10 Business Planning + SWOT Analysis Flashcards
1
Q
Business plan
A
- Document/statement
- Outlines a business’s goals + objectives
- Strategies to achieve them
2
Q
A business plan should:
A
- Be flexible
- Continuously evolve
- Adapt to a business’s goals
- Define direction business is going in
- Ensure business objectives are being achieved
3
Q
Features of a business plan
A
- Executive summary (business brand, owners, products)
- Operations plan
- Finance plan
- Marketing plan
4
Q
Business planning analysis tool
A
Process that analyses how the business can achieve its goals
5
Q
SWOT analysis
A
- Planning tool
Helps a business identify: - Internal strengths + weaknesses
- External opportunities + threats
