External analysis of business is concerned with identifying opportunities and threats and strategic questions that affect key factors of successful performance. Such analysis is necessary for strategy formulation and management in all fields of activity including marketing activity of an organisation. This analysis is mainly concerned with the study of external environment in which a business firm operates. The components [...]
The various problems relating the establishment of a new enterprise are: 1. Promotion of Business 2. Investigation 3. Form of Business Organisation 4. Adequate Capital 5. Size of Business Unit 6. Selection of Site 7. Plant Layout 8. Efficient Management 9. Launching an Enterprise. Problem # 1. Promotion of Business: It is the first stage in the establishment of a [...]
Objectives for the manager are set in the following stages: 1. Analyse the Manager's Authority and Responsibility 2. Compare Goals with Managers Job 3. Initial Definition of Objectives 4. Determining the Units of Measure 5. Select Specific Targets 6. Discussion with the Manager. Stage # 1. Analyse the Manager's Authority and Responsibility: After knowing goals for the company, division or [...]