IB Business & Management Topic 1 – Business Organisation and Environment ORGANISATIONAL PLANNING...
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Transcript of IB Business & Management Topic 1 – Business Organisation and Environment ORGANISATIONAL PLANNING...
![Page 1: IB Business & Management Topic 1 – Business Organisation and Environment ORGANISATIONAL PLANNING TOOLS.](https://reader036.fdocuments.us/reader036/viewer/2022081821/56649edb5503460f94beb4b4/html5/thumbnails/1.jpg)
IB Business & Management
Topic 1 – Business Organisation and Environment
ORGANISATIONAL PLANNING TOOLS
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Learning Objectives • Analyse the importance of business plans to
stakeholders• Apply a formal decision making framework to a
business situation• Prepare a SWOT analysis for a business situation• Analyse an organisations position using a SWOT
analysis• HL – Analyse and interpret business plans• HL - Apply decision making processes and planning
tools• HL - Compare and contrast scientific and intuitive
decision making processes• HL - Construct and interpret decision trees and
evaluate this technique
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Business Planning
An excellent example of how business entrepreneurs can increase their chances of success and gain acceptance from stakeholders
Business Plans give clear explanations of:
• Who the business owners are, their strengths and experiences
• The central purpose of the business and the intended market
• Benefits to consumers of using the business• The market research undertaken• Financial forecasts and the borrowings
required • The main risks likely to be faced by the
business
Business Plan – A written document that describes a business, its objectives, the market its in and its financial forecasts
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• Why would you advise new entrepreneurs to write a detailed business plan?
• Which stakeholders would find a plan useful, and why?
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Making Strategic Decisions
Strategic
Tactical
Operational
• Made at the top of the hierarchy
• May require high capital investment
• Once made difficult to reverse
• Long term direction of business
• Aim at meeting corporate objectives• Will impact upon different stakeholders
All business must plan for the future – corporate planning
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Business planning
• http://www.entrepreneur.com/how-to-write-a-business-plan
• Go onto the following website and write down the different parts of a business plan and what goes into each section
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Business Plans – The Importance
• Most important when setting up a new business, but, should be referred to and updated when important strategic choices are being made too
• Main purpose is to obtain finance• Planning process is very important• Financial and other forecasts can be used as
targets
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Stakeholders as users of business plans
• Business plans can be of real benefit to new and existing stakeholders of a business
• Which stakeholders may find a business plan useful? In both, new and existing businesses?