wtf Flashcards
before you start making changes, it is a good idea to make sure you have full understanding of the factors affecting your business success
assert your situation
tools (5)
swot analysis
benchmarking
market research
trend analysis
webinars
helps you identify your business strength, weaknesses, opportunities and threats
swot analysis
measures your business performance against similar sized businesses
benchmarking
investigates your business market and industry, identify trends, changes and customer or client demand
market research
used a business data collected over time to identify consistent results or trend
trend analysis
provide useful information to help develop your business skills
webinars
make sure your goals are SMART
set clear goals
state clearly what you want to achieve
specific
make sure you can evaluate success
measurable
check if your objective is something you have the time and resources to meet
achievable
make sure your objectives improve profit arrivers and improve some part of your business
relevant
set a specific date for completion
timely
think about what strategy you could use to improve the situation
identify strategies for achieving your goals
write your plan in a formal that suits you
develop a plan for implementing your strategies
how long a task will take to complete, as well as the start and finish dates
time frame
state the individual actions as precisely as you can
actions
assign accountability for each action so everyone knows precisely what you expect from them and who is responsible
responsibilities
list budget, staff or supplies needed to complete each action
resources
state how you will know that the action has been completed
desired outcome
establishing how you will measure the results that you want to achieve maybe simple as checking what you have completed
consider how often you want to measure your business achievement, this can also help you set nee goals regularly. learn more about measuring the success of your Innovation
measure the results
