Business Committee

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.