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1.6 Organisational planning tools - notes

So far we have examined the nature of business activity, types of organisations and objectives and investigated the nature of stakeholders. We have also considered the impact of the external environment on the firm in terms of the opportunities and threats it provides.

We now move on to consider the tools that are available to a business to help them plan their strategic approach.

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By the end of this section you should be able to:

  • Analyse the importance of the information in a business plan to different stakeholders
  • Apply a formal decision making framework to a given situation
  • Prepare a SWOT analysis for a given situation and use this to analyse an organisations position

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  • Analyse and interpret business plans
  • Apply decision making processes and planning tools and evaluate their value
  • Compare and contrast scientific and intuitive decision making processes
  • Construct and interpret decision trees and evaluate their value as a decision making tool