Consolidating conclusions

9 important questions on Consolidating conclusions

What is the final step in the SWOT analysis?

Identifying your major challenges and obstacles

What does SMART stand for?

  • Specific
  • Measurable
  • Acceptable
  • Realistic
  • Timed

Which points will help you determine your objectives?

  • Product/market combination
  • Timeframe
  • Growth, profit and continuity
  • Profit estimates
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Why should you make a turnover and cost prognosis?

You then know how much to start producing, how much raw materials to buy and at what price.

What can be used to make the turnover prognosis?

Data based on the number of present and potential customers and the average amount they (will) spend with you.

To formulate your export strategy, certain questions are important. Which is one of them?

Does the export market demand a great change in your products/services assortment?

What is one of the functions of the SWOT?

It is a cross point between situation analysis and planning. 

SWOT analysis is a tool that will help you draw the necessary conclusions.  


SWOT stands for?

Strengths, Weaknesses, Opportunities and Threats. 
Strengths = knowledge, skills and means that fit the wants and needs of present and potential customers and which competitors either don't have or not as strongly as you do. 

Weaknesses = deficiencies in your knowledge, skills and means pointing to areas that may place your market position in danger. 

Opportunities = favorable situations or factors in the business environment that you anticipate will improve your market position. 

Threats = unfavorable situations or factors in the business environment that you anticipate will diminish your market position. 

What is the difference between an objective and a goal?

- An objective is expressed quantitatively (with numbers)
for example: My market share is now 12% but I would like to become 20%.
- A goal is expressed qualitatively. 
It is a general statement of what you must achieve to attain your objectives. 
For example: I want to become the market leader in my field. 

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