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SETTING SIMPLE BUSINESS GOALS AND SIMPLE BUSINESS PLAN

CONTENT:

  1. Meaning of Business Goal
  2. Analysis of Business Goals
  3. Definition of Simple Business Plan
  4. Characteristics of a Business Plan
  5. Procedure for Drawing Business Plan
  6. How to Draw a Business Plan

Meaning of Business Goal

A business goal is an objective to be achieved generally by a specific date, time or period.

Analysis of Goals

Goals can be analyzed using an acronym called the SWOT Analysis.

SWOT stand for:

S – Strengths

W – Weaknesses

O – Opportunities

T – Threats

The internal environment comprises of Strengths and Weaknesses, while the external environment entails Opportunities and Threats.

S – Strength:- This is the characteristic of a business or project that gives it an advantage over others. Some of the factors for strength are expertise, quality, low capital requirement, stock, and product requirement.

W – Weakness:- Weaknesses are elements of a business that prevent it from performing at its optimum level.

Lesson tags: Business Studies Lesson Notes, Business Studies Objective Questions, JSS3 Business Studies, JSS3 Business Studies Evaluation Questions, JSS3 Business Studies Evaluation Questions First Term, JSS3 Business Studies First Term, JSS3 Business Studies Objective Questions, JSS3 Business Studies Objective Questions First Term
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