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Glossary of Terms

Business Development Requirements...
  • Review – Establishing the current state of the business by gathering data and facts about current issues with markets, strategy, operations and finance.
  • Analysis – Assessing the data gathered under the review process to establish recommendations for change to improve business performance.
  • Planning – Identifying actions required as a result of review and analysis to improve business performance.
  • Implementation – Undertaking tasks required to ensure that the business and action plans are addressed.

Business Elements.

  • Strategies – The owners desire for business results, based on critical success factors (CSF’s), business strengths/weaknesses/opportunities/threats (SWOT), objectives and tasks.
  • Marketing – The customer/client/consumer need which is identified to be serviced, and includes elements such as (but not limited to) pricing, position, promotion and product.
  • Operations – The physical systems resources required to support the market including (but not limited to) human, machinery, buildings, legal, quality, etc requirements.
  • Finances – The funds required to support the markets and operations, including the prediction (budgeting) and performance in such areas as cash flow, profit/loss and balance sheet (equity).

Lifecycle (Business) – start-up, growth, mature, mature & diversifying, decline.
Size (Business) – determined by turn-over, number of employees, etc.
Type (Business) - not-for-profit, service, trader, manufacturer, etc

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