Business Management Toolkit

BCG matrix

Descriptive statistics

• measures of central tendency - mean, median, mode

• measures of spread - quartiles, standard deviation

• data visualization - bar charts, pie charts, infographics

Ansoff matrix

Decision trees

used to help businesses to consider various factors before deciding on a particular venture. They consist of nodes and branches. There are two types of nodes:

Decision nodes - events that a company can control or decide on (represented by squares)

Chance nodes - events that are outside the control of the company (represented by circles)

STEEPLE analysis

Social, technological, economic, environmental, political, legal, ethical

SWOT analysis

Strengths, weaknesses, opportunities, threats

Business plan

1. Executive summary – abridged version of the main points of the business plan, written afterwards

2. Business description – explains the purpose of the business and what it is selling. May address the legal structure, aims, intellectual property information, relations to other organizations, and administrative issues

3. Human resources plan – description of organizational structure, philosophy and needs, number of employees needed, methods to manage them, and personnel costs

4. Financial plan – projected figures and information for financial institutions to review before providing funding such as start up cost, ongoing costs, prices for products/services, revenue figures, break even dates, how plan intends to pay back investment/loans

5. Marketing plan – outlines how the start-up will reach potential customers including market research, analysis of competitors, target market, how to reach target market, projected customer numbers, measurable market targets

6. Operational plan – relates to the function of operations such as the planned manufacturing process, availability of stock or raw materials, supplier information, how to distribute products

EBHFMO - Elsa bought her friend more oranges

Circular business models

• Circular supply models – reduce long term demand for virgin resources and instead use renewable or bio-based resources.

• Resource recovery models – recycle waste into secondary raw materials (recycled materials used in the manufacturing process), lowering the need to extract virgin resources

• Product extension models – extend the use of existing products, slow the flow of constituent materials through the economy, and reduce need for virgin resources

• Sharing models – share underutilized materials to reduce demand for new products and raw materials

• Product service system models – market services rather than products, often with incentives to use green and long-lasting products