Strategic Planning in the Small Business

HO

2-5 (continued)

Unit 2

SUMMARY

In

this

chapter

we

have

divided

internal

analysis

into

four

re­

each

category,

a

number

of

focus

source

categories.

Within

areas

have been

designated.

The

list

of focus

areas

or

factors

is

by no

means

all-inclusive.

Rather

it is

intended

to provide

a

general

framework

for

those

beginning

the

process

of

internal

reflect

on their

own

analysis.

Small

business

managers

must

business

and

select

those

items

that

are

most

relevant

to their

more

ha­

particular

situation.

As

strategic

planning

becomes

bitual,

the

internal

analysis

will become

more

focused

and spe­

cific

to

the needs

and

demands

of

the business.

Business

planners

soon

learn

which

factors

are

key indicators

for

their

busi­

will

nesses

and

analyze

these

factors

in

greater

depth.

will combine

the

analysis

of

we

In

the following

chapter

the

strengths

and

weaknesses

from

this

chapter

with

the

anal­

ysis

of the

external

environment

of

the preceding

chapter.

The

of

distinctive

is  the

determination

result

of

this combination

competencies

of

the

business.

DISCUSSION

QUESTIONS

1. Should

the

external

analysis

be

done

before

the internal

analysis?

Why

or

why

not?

2.

Why

is collecting

accurate

data

about

the

people

part

of the

business

difficult?

How

should

priorities

be set

in

determining

which

areas

to

3.

much

depth

should

be

used

in the

analyze

first

and

how

analysis?

4. Conipiete

an

internal

analysis

for

a company

familiar

to you.

What

would

likely

be key

internal

factors

for

the

following

5.

businesses?

Will your

answer

be the

same

for

each

of them?

a.  A

m-otorcycle

dealer

b.

A producer

of

computer

printers

c.  A

food

wholesaler

d.  A

grocery

store

e.  A

manufacturer

of

equipment

for

the

space

program

85

Internal

Analysis

Chapter

Two

228