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Business planning (Business types (Limited company, Sole practitioner,…
Business planning
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SWOT analysis
-Strengths (internal)
-Weaknesses (internal)
-Opportunities (external)
-Threats (external)
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STEEPLE
- Social
- Technological
- Economical
- Environmental
- Political
- Legal
- Ethical
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Stakeholders/ Audience
All business plans will align and be continuously reviewed to ensure they are fit for purpose.
Corporate - Involves the business in its entirety. The plan is created for typically a 5 year period.
Managerial - This can relate to specific part or department of a company. Timescales normally include per quarter or months.
Operational - This refers to the day to day running of the business and individuals. Timescales includes days/ hours.
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Elements
- Strategic plan
-Review of internal organisation and its external environment
-Determine long term goals and objectives
-Outline of strategies or means to achieve general goals and objectives
- Operating Plan
-Break down of strategies and goals into smaller elements
-Actions needed or desired to achieve goals
-Who does what
- Budget
-Quantify effect of the operating plan on resource and finance
-Determine whether resulting financial plan achieves financial objectives
Includes - 3/5 year plan
- Exec. summary
- Description of business opportunity/ Vision
- Marketing and sales strategy (financial review & risk analysis)
- Objectives and goals (realistic)
- Management and personnel
- Operations
- Financial forecasts=
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Legislation
The Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017
Budget, cash flow and financial controls
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LSH 2016
BC Division
‘PEOPLE, PRODUCT, PROFIT’
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A formal statement of a set of business goals, the reasons why they are attainable and the plan for reaching those goals
Link business planning to achievements
and corporate objectives #
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