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Week 1: June 17th
Work on Swot, Business Plan, Mission Statement ( Supplied by Wikipedia)
SWOT
A SWOT analysis is a strategic planning technique that helps identify and evaluate the Strengths, Weaknesses, Opportunities, and Threats related to a business, project, or individual. It is a 4-quadrant diagram that provides a framework for analyzing internal and external factors to make informed decisions.
Components of a SWOT Analysis:
- Strengths: Internal factors that are favorable and can be used to achieve goals.
- Weaknesses: Internal factors that are unfavorable and can hinder goal achievement.
- Opportunities: External factors that can be leveraged to achieve goals.
- Threats: External factors that can negatively impact goal achievement.
Business Plan
Business Plan Suggested Sections:
- cover page and table of contents
- executive summary
- mission statement
- business description
- business environment analysis
- SWOT analysis
- industry background
- competitor analysis
- market analysis
- marketing plan
- operations plan
- management summary
- financial plan
- achievements and milestones
Mission Statement
A mission statement is a short statement of why an organization exists, what its overall goal is, the goal of its operations: what kind of product or service it provides, its primary customers or market, and its geographical region of operation.
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