What is planning?Planning is setting out a goal and stating how you are going to achieve that goal.
What are goals? Aims Objectives Targets What you want to achieve
Why do we plan? 1. Aims and activities are established clearly. 2. Everyone knows what they are working towards. 3. You can check the progress of the activity against the plan/to see if any changes are needed/make decisions. 4. It allows a time frame and deadlines which keeps everyone on track. 5. To draw up budgets/schedule of costs/be aware of financial requirements/resources needed/required when applying for a loan or a grant. 6. Carry out SWOT analysis, look at competition, identify weaknesses/anticipate problems.
Why do businesses plan? 1 To foresee and anticipate future trends/changes in consumer tastes/problems. 2 It allows you set realistic goals/targets which are achievable. 3 You can review existing position and see if any changes are needed/make decisions. 4 You are aware of financial requirements and a plan is needed if applying for a loan or grant. 5 You can draw up budgets and limit spending/purchase equipment in the future. 6 To keep ahead of the competition.
Strengths and Weaknesses Strengths Weaknesses Are positive Are negative Are internal Are internal Are present Are present
Opportunities and Threats Opportunities Threats Are positive Are positive Are external Are external Are in the future Are in the future
Plans should be SMARTSpecificMeasurableAgreedRealisticTimed
Swot analysis of a business Strengths can include (i)Location (ii)Product/service (iii)Staff (iv) Reputation (v)Awards won (vi)Loyal customers – Goodwill Weaknesses can include (i)Poor management (ii)In need of capital (iii)Out of date premises/equipment
• Opportunities can include (i) New markets/expansion (ii) New products• Threats (i) Competition (ii) Cost of finance (iii) Economic downturn.
Visits out to a local businessenterprise is very beneficial asa class activity. Describe the factors that contributed to the success or failure of the visit. 1 How well the visit was planned 2 Did arrangements work according to plan? 3 Participation of all the class members. 4 How welcoming/prepared the organization we visited were for us. 5 The quality of the research on the organization.
Evaluation is the reviewing ofan activity with a view toassessing if it wassuccessful/analysing theinformation to see if it was asuccess or failure/to alter howwe would do the activity in thefuture.
Why it is important to evaluateyour visit?1 To review if arrangements went to plan. 2 To see what changes need to be made for future activities. 3 To review each persons role/ teamwork of the class. 4 To see if it is worth repeating. 5 To see were the desired aims met.
Methods that could be used toevaluate a visit out.
1 Questionnaire:• Can be given to the organization visited as well as to the class.Reasons:Easy to administer/collate results.Can be completed anonymously.Generally inexpensive.Good response rate.They are objective.
2.Class Discussion:Varying opinions and discussions can betaken on board.Reasons :Easy to organizeEveryone can participate.Allows one to see how much waslearned.Good to show improvement or practicein communication skills.
3 Quality of reportIf it has enoughinformation/correct type ofinformation been learned.Reasons:Easy method to use as all classmembers must produce a report.Reports can be compared easily.