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10 Principle in Creating A Business and Swot DAY 2

The document discusses principles and tools for creating a successful business. It outlines 10 principles: 1) scalability, 2) big ideas, 3) systems, 4) sustainability, 5) growth, 6) vision, 7) purpose, 8) autonomy, 9) profitability, and 10) standards. It also describes the common SWOT analysis tool used to evaluate strengths, weaknesses, opportunities, and threats. SWOT involves analyzing internal strengths and weaknesses as well as external opportunities and threats to assess viability and direction.

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PANGANDAMAN, Ashlia
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219 views17 pages

10 Principle in Creating A Business and Swot DAY 2

The document discusses principles and tools for creating a successful business. It outlines 10 principles: 1) scalability, 2) big ideas, 3) systems, 4) sustainability, 5) growth, 6) vision, 7) purpose, 8) autonomy, 9) profitability, and 10) standards. It also describes the common SWOT analysis tool used to evaluate strengths, weaknesses, opportunities, and threats. SWOT involves analyzing internal strengths and weaknesses as well as external opportunities and threats to assess viability and direction.

Uploaded by

PANGANDAMAN, Ashlia
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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ANALYZING DIFFERENT

PRINCIPLES, TOOLS, AND


TECHNIQUES IN CREATING A
BUSINESS

DAY 2
10 Principles in Creating a Business

1.Scalability
A business must be scalable for it to be successful. A
small business built rightly can grow 10,000 times its
current size.
2.Big Ideas
A small business is no more effective than the idea upon which it is
built. The entrepreneur's vision is more important to the life of the
business than anything else.

3.Systems
You must recognize that a small business is a System in which all
parts contribute to the success or failure of the whole. In this
system, everything must work together: from employee to
president; from equipment to resources.
4.Sustainability
A business must be dynamic--able to thrive through all economic
conditions, in all markets, providing meaningful, highly
differentiated results to all of its customers. Such differentiation
is key to survival.
5.Growth
All businesses

need internal growth. A small business is a School in
which its employees are students, with the intention, will, and
determination to grow.
6.Vision
A small business must manifest the Higher Purpose upon which it
was seeded, the vision it was meant to exemplify, the mission it
was intended to fulfill.

7.Purpose
A small business is the fruit of a Higher Aim in the mind of the
person who conceived it.
8. Autonomy
A business is not part of the owner's life, but is, in fact, its own
entity. A small business possesses a life of its own, in the service
of God, in whom it finds reason.

9.Profitability
A small business is an economic entity, driving an economic reality,
creating an economic certainty for the communities in which it
thrives.
10. Standards
A small business creates a Standard against which all small
businesses are measured as either successful, or not. All small
businesses should aim to thrive beyond the standards that
formerly existed.
Common Tools and Techniques
SWOT ( Strength, Weakness,
Opportunities and Threats ) Analysis
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 success.
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?
If your business is up and running do customers think highly of you?
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?

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