Business Planning Flashcards
1
Q
What is a business plan?
A
A formal statement of the businesses goals, reasons why they are attainable and the plan for reaching the goals. Provides employers with a common ground to focus upon.
2
Q
What is a SWOT analysis?
A
It is a structure analysis of the market (demand side). It is used to analyse internal strength and weaknesses and external threats and opportunities to exploit
strengths and opportunities and mitigate weaknesses and threats.
3
Q
What is a PEST analysis?
A
This is a structured method of analysing the key factors influencing markets (the demand side).
1) Political influences
2) Economic influences
3) Socio-demographical influences
4) Technological influences
5) Environment
