1. IB Business & Management Topic 1 – Business Organisation and Environment ORGANISATIONAL PLANNING TOOLS

2. Learning Objectives Analyse the importance of business plans to stakeholders Apply a formal decision making framework to a business situation Prepare a SWOT analysis for a business situation Analyse an organisations position using a SWOT analysis HL – Analyse and interpret business plans HL - Apply decision making processes and planning tools HL - Compare and contrast scientific and intuitive decision making processes HL - Construct and interpret decision trees and evaluate this technique

5. Business Planning An excellent example of how business entrepreneurs can increase their chances of success and gain acceptance from stakeholders Business Plans give clear explanations of: Who the business owners are, their strengths and experiences The central purpose of the business and the intended market Benefits to consumers of using the business The market research undertaken Financial forecasts and the borrowings required The main risks likely to be faced by the business Business Plan – A written document that describes a business, its objectives, the market its in and its financial forecasts

6. Why would you advise new entrepreneurs to write a detailed business plan? Which stakeholders would find a plan useful, and why?

7. Making Strategic Decisions Strategic Tactical Operational Made at the top of the hierarchy May require high capital investment Once made difficult to reverse Long term direction of business Aim at meeting corporate objectives Will impact upon different stakeholders All business must plan for the future – corporate planning

8. Business planning http://www.entrepreneur.com/how-to-write- a-business-plan http://www.entrepreneur.com/how-to-write- a-business-plan Go onto the following website and write down the different parts of a business plan and what goes into each section

9. Business Plans – The Importance Most important when setting up a new business, but, should be referred to and updated when important strategic choices are being made too Main purpose is to obtain finance Planning process is very important Financial and other forecasts can be used as targets

10. Stakeholders as users of business plans Business plans can be of real benefit to new and existing stakeholders of a business Which stakeholders may find a business plan useful? In both, new and existing businesses?