Growing a business:
Analysis techniques
Various techniques have been developed to help businesses consider their position plan strategically. These include mapping out various options, and evaluating each of the options. For example, you could consider the following scenarios:
- continue as before
- have a marketing campaign
- develop existing products
- enter a new market
You would need to analyse the costs and benefits, the risks and rewards.
Another technique is to prepare a SWOT analysis of your:
- strengths
- weaknesses
- opportunities
- threats
You should aim to build on or complement your strengths, and remedy any weaknesses. You need to take advantage of any opportunities and reduce the risks posed by any threats.
For some businesses, a PEST analysis is useful, to set out the:
- political
- economic
- social
- technological
... factors that may affect your business.
We can help you to apply these techniques to your business.
 | |
Where next?
Within How is your business performing...
Within Growing a business…
General...
- Contact us about this issue
- Read about how we can help you & your family
- Request a meeting with us
