Mandatories Flashcards
1
Q
Why is business planning important?
A
Business planning is important because it enables businesses to set clear goals, allocate resources effectively and identify potential risks
2
Q
What is Salesforce?
A
It is a Customer Relationship Management platform that helps buisnesses manage customer data and sales operations
3
Q
How can business planning help a company to achieve its objectives?
A
- Can help to establish clear goals and objectives
- Strategic planning and resource allocation
- Facilitates decision-making
4
Q
What is the difference between long and short-term business planning?
A
- Short-term focuses on immediate goals and achieving specific measurable results in the near future
- Long-term focuses more on strategic, vision-driven goals with the aim to position the business for long-term success
5
Q
What are the essential elements of a business plan?
A
- Executive summary
- Company overview - what are the vision & values
- Market analysis and strategy
- Financial plan
- Management plan
- Growth strategy
6
Q
Why is cross-collaboration important?
A
- Encourages open communication between teams
- Facilitates knowledge-sharing
- Brings together diverse perspectices and skills
