About This Chapter
Business Planning - Chapter Summary
As employees examine each section of this chapter, they will learn key business planning strategies and rules. They will also learn how to analyze various features of a business plan and review examples of useful visual aids for business planning. Other topics discussed in detail throughout this chapter include:
- Identifying customer requirements
- Features of Swim Lane Diagrams and de Bono's Six Thinking Hats
- Business rules and management tools
- Analyzing the industry, competition, market and risk when creating a business plan
Employees will be given the opportunity to assess their comprehension of these concepts by taking brief lesson quizzes and a more thorough chapter exam. Matching quiz worksheets can be printed out and used as a reference guide while viewing the lessons to help identify main ideas.
How It Helps
- Identifies areas that need consideration: Before initiating a business plan, employees need to be aware of the various factors that should be considered and analyzed to make sound judgments on business goals and opportunities.
- Provides framework: The business rules and management techniques outlined in this chapter highlight the necessary framework of planning and establishing a business.
- Explains visual aids: Useful aids that can help employees visualize various aspects of business planning and management are expertly explained so employees are aware of how to effectively use them.
Upon completion of this chapter, employees will be able to:
- Understand and utilize visual aids to illustrate specific components of a business plan
- Explain core business and management rules
- Analyze the industry, market, competition and risk related to their business plan
- Assess customer needs and requirements
1. Determining Specific Customer Requirements
Knowing customer requirements is important to the success of a company. Customer requirements can be determined through research, customer feedback, and identifying how customers want to purchase products.
2. de Bono's Six Thinking Hats: Summary & Examples
Communicating in team meetings can be extremely challenging. This lesson discusses how de Bono's six thinking hats can help guide your team's creative thinking with fewer conflicts.
3. Swim Lane Diagrams: Definition & Examples
Sometimes, companies need to show a process. There are many diagrams to choose from when showing how information flows. In this lesson, we'll learn about one of them, known as the swim lane diagram.
4. Business Rules: Engines & Tools
In this lesson, you will learn about business rules engine software and their importance. You will also learn more about the tools that are used in the process of developing and using business rules.
5. Business Rules Management: System & Software
In this lesson, you will learn the concept of business rules management. Business rules management plays an important role in any organization that has complex business processes. The lesson also describes the system and software that is used in Business Rules Management.
6. Industry Analysis for Business Plans
How do you know that your business is better than others in your industry? In your business plan, the industry analysis is a detailed and informative section that explains the industry you will be operating in and why your business is a unique addition to the industry.
7. Competition Analysis in Business Planning
Do you own a business and want to know how to stand out from the pack? In this lesson, we will discuss what competition analysis is, how to determine your competitors, and ways to compare yourself to competitors through business planning.
8. Risk Analysis Plans for Businesses: Techniques & Examples
In the universe of business, risk is an everyday reality. At some point in your career, you will need to make a business decision that involves risk. In this course, we will examine how you can use risk analysis tools to help you effectively deal with risks.
Earning College Credit
Did you know… We have over 200 college courses that prepare you to earn credit by exam that is accepted by over 1,500 colleges and universities. You can test out of the first two years of college and save thousands off your degree. Anyone can earn credit-by-exam regardless of age or education level.
To learn more, visit our Earning Credit Page
Transferring credit to the school of your choice
Not sure what college you want to attend yet? Study.com has thousands of articles about every imaginable degree, area of study and career path that can help you find the school that's right for you.