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13 Cards in this Set
- Front
- Back
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What are the 3 primary goals of bussiness?
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1)survival
2)profit 3)growth |
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interaction between each other:
survival and profit |
slow expansion of markets and products
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survival and growth
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high market share
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profit and growth
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speculative new products and services
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survival, profit, and growth
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cautious expansion of markets and products
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How do you assess the current status of an organization?
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analyze operations and market with a SWOT analysis
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What is a SWOT analysis?
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Strenghts
Weakness (internal) Opportunities threats (external) |
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What is strategic planning?
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ensures that the organiziation id DOING the right things
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What is operational planning?
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ppreprared to PERFORM immediate tasks and objectives
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What is business planning?
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determines the FEASIBILITY of specific programs
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What are barriers to planning?
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1)failure to commit time
2)interpersonal issues 3)resistance to change 4)lack of planning skills 5)constantly changing environment 6)failure to monitor progress 7)lack of administrative support |
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What are the 5 steps of the business plan process?
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1)explore idea
2)assess market for service 3)assess potential for revenal generation/cost savings 4)assess fit of service w/ overall organizational goals 5)seek advice from key stakeholders |
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What does a business plan (a document) describe?
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1)executive summary
2)background/description of service 3)market analysis and strategy 4)operational structure and processes (service blueprint) 5)financial projections 6)milestaones, schedule, and action plan 7)critical risks and opportunities 8)exit strategy 9)conclusions 10)supportive documents |
