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        • SMEs
        • Influences
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TOPIC 3: BUSINESS PLANNING

SMEs
Influences
Planning Process
Critical Issues


​Small to medium enterprises

  • definition
  • role
  • economic contribution
  • success and/or failure

Influences in establishing an SME

  • personal qualities - qualifications, skills, motivation, entrepreneurship, cultural background, gender
  • sources of information
  • the business idea - competition
  • establishment options - new, existing, franchise
  • market - goods and/or services, price, location
  • finance - source, cost
  • legal - business name, zoning, health and other regulations
  • human resources - skills, costs (wage and non-wage)
  • taxation - federal and state taxes, local rates and charges

The business planning process

Sources of planning ideas
  • situational analysis 
Vision, goals and/or objectives
  • vision
  • business goals
  • long-term growth
Organising resources
  • operations
  • marketing
  • finance
  • human resources
Forecasting
  • total revenue, total cost
  • break-even analysis
  • cost flow projections
Monitoring and evaluations
  • sales
  • budgets
  • profits
Taking corrective action

Critical issues in business success and failure

  • importance of a business plan
  • management - staffing and teams
  • trend analysis
  • identifying and sustaining competitive advantage
  • avoiding over-extension of finance and other resources
  • using technology
  • economic conditions
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  • Home
  • About
    • About
    • Education Blog
    • Writing Blog
  • Case Studies
  • Courses
  • HSIE Resources
    • HSC Business Studies >
      • Operations >
        • Role of operations management
        • Influences
        • Processes (overview) >
          • Inputs
          • Transformation processes
          • Outputs
        • Strategies
      • Marketing >
        • Role of marketing
        • Influences
        • Process
        • Strategies
      • Finance >
        • Role of Financial Management
        • Influences
        • Processes
        • Strategies
      • Human Resources >
        • Role of human resource management
        • Influences
        • Processes
        • Strategies
        • Effectiveness
    • Preliminary Business Studies >
      • Nature of Business >
        • Role of business
        • Types of businesses
        • Influences
        • Business growth and decline
      • Business Management >
        • Nature of management
        • Management approaches
        • Management process
        • Management and change
      • Business Planning >
        • SMEs
        • Influences
        • Business Planning Process
        • Critical Issues
    • Economics >
      • Introduction to Economics >
        • The nature of economics
        • The operation of an economy
      • Consumers and Businesses >
        • Businesses
      • Markets >
        • Demand
        • Supply
        • Market equilibrium
        • Market structures
      • Labour Market >
        • Demand and supply of labour
        • Labour market trends
      • Economic Issues >
        • Economic growth
        • Unemployment
        • Inflation
        • External Stability
        • Distribution of Income and Wealth
        • Environmental Sustainability
    • Society and Culture >
      • Course Framework
      • Research Methods
      • P1: Social and Cultural World
      • P2 Personal and Social Identity
      • P3: Intercultural Communication
      • PIP
      • H1: Social and Cultural Continuity and Change
      • H2: Popular Culture - Social Media
      • H3: Equality and Difference
    • Geography (old syllabus) >
      • Coastal Management
      • Urban Growth and Decline
      • Human Rights
  • Contact