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13 Cards in this Set

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What are the 3 primary goals of bussiness?
1)survival
2)profit
3)growth
interaction between each other:
survival and profit
slow expansion of markets and products
survival and growth
high market share
profit and growth
speculative new products and services
survival, profit, and growth
cautious expansion of markets and products
How do you assess the current status of an organization?
analyze operations and market with a SWOT analysis
What is a SWOT analysis?
Strenghts
Weakness
(internal)

Opportunities
threats
(external)
What is strategic planning?
ensures that the organiziation id DOING the right things
What is operational planning?
ppreprared to PERFORM immediate tasks and objectives
What is business planning?
determines the FEASIBILITY of specific programs
What are barriers to planning?
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
What are the 5 steps of the business plan process?
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
What does a business plan (a document) describe?
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