Planning (VCE SSCE Business Management): Flashcards

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Planning
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Planning definition

Formalised decision-making process to achieve objectives

Strategic planning timeframe

2 to 5 years

Tactical planning timeframe

1 to 2 years

Operational planning timeframe

Day-to-day up to 1 year

SWOT stands for

Strengths, Weaknesses, Opportunities, Threats

Internal factors in SWOT

Strengths and Weaknesses

External factors in SWOT

Opportunities and Threats

Strength in SWOT

Internal characteristic helping achieve mission & objectives

Opportunity in SWOT

External factor business can use to its advantage

Stage 2 of planning involves

SWOT analysis - assess current & forecast future situation

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Internal Business Environment and Planning

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Internal Business Environment and Planning

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Internal Business Environment and Planning

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Internal Business Environment and Planning

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