Principles In Creating Business PDF

PRINCIPLES IN CREATING BUSINESS  1.Scalability Business which has a potential to grow. Growing business by aligning strategies on situtaions. 2. Big Ideas Greater opportunities Comes from Hobbies, interests and business experience 3. Systems Recognizing small and big...

PRINCIPLES IN CREATING BUSINESS  1.Scalability Business which has a potential to grow. Growing business by aligning strategies on situtaions. 2. Big Ideas Greater opportunities Comes from Hobbies, interests and business experience 3. Systems Recognizing small and big parts contributes success and failures to the business. Fit in from owner, employee, resources and equipment. 4. Sustainability Business must be powerful Harness all economic conditions on market settings, providing positive and meaningful quality results to its customers. 5. Growth All business need to be grow especially in the internal aspect of business.  6. Vision Purpose, Goals , Outcome Vision plays a vital role as it is your guide in planning. Align in abrupt changes, like what is happening right now in economy.  7. Purpose A business is the results of a big dream in mind of the person who dream for it.  8. Autonomy A business is not a part of the owner’s life, but in fact, it’s own entity. 9. Profotability A business help economic entity, managing economic reality, creating an economic certainty for the communities in which it thrives.  10. Standards A business creates standard against all businesses measured as either successful or not. In order a business will go beyond, aim high beyond the existing standard. TOOLS AND TECHNIQUES IN CREATING A BUSINESS  Strength Are internal, positive attributes of your company. These are things that are within your control. * What business processes are successful? * What assets do you have in your team, such as knowledge, education, network, skills, and reputation? * What physical assets do you have, such as customers, equipment, technology, cash, an patents? * What competitive advantages do you have over you competitors?  WEAKNESSES Are negative factors that detract from your strengths. These are things that you might need to improve on to be competitive.  * Are there things that your business needs to be competitive? * What business processes need improvement? * Are there tangible assets that your company needs, such as money or equipment? * Are there gaps on your team? * Is your location ideal for your success?  OPPORTUNITIES Are external factors in your business environment that are likely to contribute to your succes  Is your market growing and are there trends that will encourage people to buy more of what you selling? * Are there upcoming events that your company may be able to take advantage of to grow the business? * Are there upcoming changes to regulations that might impact your company positively?  THREATS Are external factors that you have no control over. You may want to consider putting in place contingency plans for dealing them if they occur. * Do you have potential competitors who may enter your market? * Will suppliers always be able to supply the raw materials you need at the prices you need? * Could future developments in technology change how you do business? * Is consumer behaviour changing in a way that could negatively impact your business? * Are there market trends that could become a threat? Thank you for attentive listening!