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The tool "Internal Factor Evaluation Matrix" helps to identify and assess the strengths and weaknesses of a business, which arise from within the environment.Uses of the tool:
The tool proposed for use by the management group of the business (Board) and / or the entrepreneur himself. Due to the high specificity of the tool the user probably needs the help of business consultants.Requirements of the tool:
A prerequisite for the use of the tool is the objective recording of the strengths and weaknesses of the company.
The tool "External Factor Evaluation Matrix" helps to identify and assess the strengths and weaknesses of a business, which arise from within the environment.Uses of the tool:
The tool is proposed for use by the management group of the business (Board) and / or the entrepreneur himself. Due to the high specificity of the tool the user probably needs the help of consultants.
In order to establish where the business is going, you must know exactly where it is. The tool "Business Strategy Formulation" helps exactly in doing this, examining the current state of the business in key areas such as:
Research and Development
Information systems - new technologies
Strategic planning: is the process of determining the strategy, direction and decision making of a business with regards to the allocation of resources (including capital and people).
It is suggested the tool be used by the general management of the company.Requirements of the tool:
This product can be combined with the preparation and completion of the Business Plan.
The Quantitative Strategic Planning Matrix assists in evaluating two different strategies designed by the company so as to select the optimum.
With the overall level of attractiveness we are given the relative attractiveness of each alternative strategy considering only the internal and external factors.
With the sum of the total points of attractiveness we are given our the best strategy comparatively.
The tool is proposed for use by the management of business (Board) and / or the entrepreneur himself. Due to the high specificity of the tool the user will probably need the help of a Business Consultant.Requirements of the tool:
1. The previous design of the strategies to be compared with the use of the tool "SWOT Matrix".
2. The previous identification of internal and external factors and the use of tools "Internal Factor Evaluation Matrix" and "External Factor Evaluation Matrix"
The completion of the tool "Business Plan" helps us track what the business does, and where it exactly wants to be (setting targets). It is a hub for the foundation of a business as well as its future direction and viability.
Its goal is to analyze the current situation of the market and the enterprise and guide the actions of executives in specific directions and tactics. Thereby permitting advance verification of the feasibility of a business idea from a commercial, economic and financial point of view. This offers the prospective entrepreneur an important planning tool and control for its future activities, and is a means of communication necessary for the presentation of future business activity in a prospective partner or a prospective donor.
The purpose is the company's success and minimisation of risk.
Therefore, the business plan is a tool for organisation and presentation.
It is an organizing tool because it determines the strategy of the company. Highlights the potential and obstacles which could arise as well as possible solutions. Structures the movements and determines the path to be followed.
Presentation tool because it is the first communication element of the entrepreneur to third parties, which will allow it to attract internal and external partners.
The readers of the document will be able to quickly understand the entrepreneurship aspect of the proposal, they will be able to assess the preparation of this plan and take a position in terms of the potential of the business idea. Proper organization of a businessplan means that the entrepreneur is more likely to convince readers of the positive aspects of the plan and thereby gain partners.
Why is it necessary?
- Identifies the company reflecting the actual situation with measurable figures
- It enables better planning and design to the entrepreneur
- It records and analyses the market by helping understand it
- It helps in choosing the suitable figures for the business (righ-sizing).
- It helps in decision-making based on the objectives and policy of the business.
- It helps in the evaluation of the viability of the business
- It contributes to the best distribution of capital in the business.
- It contributes to the location of opportunities and the re-design of functions in the case of mistakes
- Specifies the exact place at which the business is at the time of planning
- Defines which place the business wants to be in in a specific time frame
- Suggests the means and resources to achieve this
- Determines the structure and organisation of the business
- Constitutes a reference point and demonstrates the level of attainment of the objectives
- A useful tool for attracting potential investors and raising capital
- Is necessary for submission to instutions for funding programmes
- It is required for obtaining a loan from banks and for other similar actions
What are the most common cases for which the conduct of a Business Plan is necessary?
• The study of the creation of a new business activity by a company or individual, which most likely does not have full knowledge of the market that he desires to enter, of the amounts needed for the new investment, competitors it will have, the potential profit margins, the behavior of potential customers, and the hidden dangers of this market.
• The study of business functions of an existing business, with the aim of optimizing them. The key questions to be answered, for example, are:
Is the business developing effectively?
Is the distribution of diferent products and/or services through the business done effectively?
What are the dangers of competition?
Is a new strategy needed to face competitive pressures?
• The feasibility study of an existing business with expansionist ambitions.
It may for example relate to the company's expansion into products or services that are not produced until now.
But can involve the investment expansion in a market that it is already operating in and has a presence, such as a shop or hotel chain that wants to operate in an area that until now doesn't have a presence.
A common element in both cases is the uncertainty concerning the acceptance of the product from the market and the need for concrete answers to questions like what is the expected return on this investment. The company must ultimately answer the question of whether extension or reinforcement of already produced products is profitable.
•Finding resources. Candidate financiers or investors need to know details about the design of the future course of the business as the strategy to be followed, the funds to be used, the purpose served by the company, its objectives, investment in human resources, tangible and intangible assets, etc, before deciding its enhancement.
The tool is proposed for use by the management of the business (Board) and / or the entrepreneur himself. Due to the high specificity of the tool the user probably need the help of business consultants.
An evaluation of a strategy is based on the following three criteria:
The suitability of a strategy relates to whether it creates and maintains a competitive advantage for the business. Specifically, it is associated with the response to external environmental conditions, the degree of exploitation of resources and capacities, and whether it's based on the corporate culture. To evaluate the appropriateness of the strategy, the starting point is the assessment of environmental criteria and then the evaluation of the resources and capabilities of the business. The evaluation of the suitability of a new strategy should also identify and evaluate the sources of advantage on which it is based, in terms of cost efficiency and added value.
The evaluation of the acceptability of a strategy includes the anticipated "profits", in relation to the objectives of the business. These objectives are a reflection of the expectations of key stakeholder groups and shareholders of the company. This means that the strategy should meet these expectations.
Another point that evaluates acceptability is the degree of risk posed. It is imperative to assess whether the implementation of the strategy poses risks to the sustainability and profitability.
The evaluation of the feasibility of strategic options includes consideration of resources and capabilities of the company to successfully implement the strategy. It should be an analysis not only of financial and other tangible resources of the enterprise, but also non-tangible, such as the actual capacity. If you have the resources and skills, then this strategy is feasible.
The tool is proposed for use by the Board of Directors and / or the entrepreneur himself. Due to the high specificity of the tool the user will probably need the help of a Business Consultant.Requirements of the tool:
The use of the tool involves designing a strategy. It is proposed to use all the tools of the category "Management" in the following order:
- Strategy Formulation
- SWOT Analysis
- Internal Factor Evaluation Matrix
- External Factor Evaluation Matrix
- TOWS Matrix
- Quantitative Strategic Planning Matrix
- Evaluation Criteria for Strategic Planning
Η ανάλυση SWOT βοηθά την επιχείρηση να καθορίσει και να καταγράψει τα δυνατά και αδύνατα σημεία της καθώς και τις ευκαιρίες αλλά και τις απειλές που έχει εντοπίσει και πιθανά επηρεάζουν την λειτουργία της.
Η ανάλυση SWOT αποτελεί βασικό εργαλείο για τον αρχικό σχεδιασμό μιας στρατηγικής η οποία θα βοηθήσει στην διατήρηση της βιωσιμότητας της επιχείρησης αλλά και στην ανάπτυξή της.
Τα δυνατά και αδύνατα σημεία σημεία αφορούν το εσωτερικό περιβάλλον της επιχείρησης καθώς προκύπτουν από τους εσωτερικούς πόρους που αυτή κατέχει (π.χ. ικανότητες προσωπικού και στελεχών, ιδιότητες και χαρακτηριστικά της επιχείρησης, τεχνογνωσία, χρηματοοικονομική υγεία και ικανότητα να ανταποκριθεί σε νέες επενδύσεις, κλπ.).
Αντιθέτως οι ευκαιρίες και οι απειλές αντανακλούν μεταβλητές του εξωτερικού περιβάλλοντος της επιχείρησης τις οποίες η επιχείρηση θα πρέπει να εντοπίσει, να προσαρμοστεί σε αυτές ή ακόμα και να τις προσαρμόσει όπου κάτι τέτοιο είναι εφικτό (π.χ. είσοδος νέων ανταγωνιστών, ρυθμίσεις στο νομικό περιβάλλον, δημιουργία ή/και εμφάνιση νέων αγορών, κλπ.).
Το εργαλείο προτείνεται να χρησιμοποιηθεί από την ηγετική ομάδα της επιχείρησης (Διοικητικό Συμβούλιο) ή/και από τον ίδιο τον επιχειρηματία. Λόγω της μεγάλης εξειδίκευσης του εργαλείου πιθανότατα ο χρήστης να χρειαστεί τη βοήθεια ενός Συμβούλου Επιχειρηματικότητας.
The tool "Strategy Planning - TOWS Matrix" helps us in the creation of the most effective strategies aiming towards the development of the business by making use of internal (strong and weak points) but also external factors (opportunities and threats).Uses of the tool:
It is advised that the tool be used by the Leadership team of the busienss (Board of Directors) and/or by the entrepreneur. The user may need the assistane of the Entrepreneurship Consultant due to the specialisation of the tool.Requirements of the tool:
The use of the tool requires the previous completion of the tool "SWOT Analysis" or alternatively the tools "Evaluation of External Factors Matrix" and "Evaluation of Internal Factors Matrix".
The tool "Defining Personal Management Style" helps the manager and / or a business owner to identify his/her personal management style. It does not refer to organizational management issues but to the type, style of management on a personal level.
Useful information for completing the questionnaire:
There are no correct or wrong answers. You cannot succeed or fail this test.
Respond only with a YES or NO.
This is not a test of ability as a director. It is an effort to discover your personal style of management
Do not try to "guess" the answer. There are no trick questions.
Do not ask yourself what the "best" answer can be. Just give the answer that fits your type and personality
Answer according to your acutal data and not how you would like to be
The question may not fit with your current employment. Even so, it should be answered. Ask yourself: "If this fit with my work, what would my answer be?"
This tool is proposed to be used by the managers and/or business owner.
PEST analysis is a strategic tool used in Marketing that is used to analyse the macroenvironment of an enterprise. Specifically, PEST analysis examines the following:
- The Political Environment
The Political Environment leads to political stability, laws, the political regime and the governmental form. These and other factors of the environment can even allow or forbid the operation of a business. The political environment also includes the environment that operates at a local level (e.g. Local and regional management)
- The Economic Environment
The Economical Environment relates to the economic life of a country or society. Factors that affect the economic environment include interest rates, inflation rates, economic development etc.
- The Social Environment
The structure of society, the perceptions of citizens of a specific community, demographics, psychographics and other such criteria indefinitely affect an enterprise that is active in society and this is why PEST analysis is implemented and examined.
- The Technological Environment
Finally, the technological environment has a definitive role to transform the Macroenvironment. Innovation, barriers to entry relating to technological achievements and the transfer of technology all constitute crucial issues that are defined at this point.
It is advised that this tool is used by the leadership team of the business (Board of Directors) and/or by the entrepreneur. It is possible that the user may need the assistance of an Entrepreneurship Consultant due to the specialisation of the tool.Requirements of the tool:
PEST analysis is often used in the field of Marketing when analysis the current situation in terms of the macroenvironment. However, it is on its own an independent tool and can be applied in any situation.
This tool consits of 30 questions, that examine the person's skills in planning steps towards his success (planning skills).Uses of the tool:
This tool can be used by anyone who is interested in examining his planning skills.
This tool "Credit danger" gives you the opportunity to ckeck your financial abilities. Specifically, you will be able to detect the level of danger you are in and take action to avoid furhter financial problems. Better management of your financials will help you to build a creditworthiness profile and will release you from additional lending charges.Uses of the tool:
This tool can be used by any kind of borrower, such as the entrepreneur himself or the manager of the business.
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