RESEARCH SKILLS Where to find information…

What topics this presentation covers:

• Strategic Planning• Developing a Business Plan• Developing a Marketing Plan• Risk Management• Corporate Sponsorship• PESTLE Analysis• SWOT Analysis• Industry Analysis - where to find reports

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STRATEGIC PLANNING

• Strategic planning is an essential process for every business.

• A Strategic Plan sets the direction for the business over an extended time (e.g. 3-5 years or longer).

• It defines the goals for the business, what the business will do and how it will do it.

http://www.smallbiz.nsw.gov.au/run/strategy/strategy/Pages/default.aspx

4http://www.buzzle.com/articles/288379.html

A BUSINESS PLAN

• A Business Plan is a one-to-two year subset of the Strategic Plan - it describes in greater detail how the business will progress its strategy.

• It outlines the business, its objectives, strategies, target market and financial forecasts.

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Business Plan Template

http://www.smallbusiness.wa.gov.au/business-plan/

7http://www.business.gov.au/Information/business-plan-template-and-guide/Pages/default.aspx

Business Plan Template

A MARKETING PLAN

• A Marketing Plan is a component of a Business Plan.

• It outlines your marketing strategies to attract new clients and keep existing ones.

• It involves an in-depth industry analysis.

9http://www.smallbusiness.wa.gov.au/marketing-plan/

10http://www.business.qld.gov.au/business/running/marketing/write-implement-marketing-plan

A RISK MANAGEMENT PLAN

• “The process of identifying risks, assessing risks and developing strategies to manage risks is known as risk management.”

• By understanding potential risks and finding ways to minimise their impacts, helps a business to recover quickly if an incident occurs.

• A Risk Management Plan (Emergency Management & Recovery Plan) should detail a strategy for dealing with risks e.g. floods, fires, earthquakes, etc.

http://www.business.qld.gov.au/business/running/risk-management/risk-management-plan-business-impact-analysis

12http://www.business.qld.gov.au/business/running/risk-management/risk-management-plan-business-impact-analysis

13http://www.business.gov.au/BusinessTopics/emergencymanagementandrecovery/pages/default.aspx

SPONSORSHIP

• Sponsorship is defined as an investment which yields a commercial return for the sponsor.

• A sponsorship strategy is a document that outlines the target markets, objectives for sponsorships and specific strategies to achieve these goals.

• This document is closely linked to the marketing strategy.

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15http://www.powersponsorship.com/

16http://www.sponsorshiphq.com/templates/shq/page/page_standard.php?secID=73

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PESTLE ANALYSISA tool by which the business environment is evaluated to determine the suitability of the current environment prior to starting a new business. It is an environmental scan which considers the following factors:• Political: e.g. government policies

• Economic: e.g. home/overseas economy situation & trends

• Social: e.g. lifestyle trends

• Technological: e.g. technological advances

• Legal: e.g. current/future legislation

• Environmental: e.g. environmental legislationhttp://pne-development.org/store/1335358241.158LID0.pdf

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PESTLE = Political, Economic, Social, Technological, Legal, Environmental Factors (in Australia)

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Search Results

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Full Text of Report Overview Available

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Citation Information Available in APA

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SWOT ANALYSIS

• A SWOT analysis is used to identify the internal and external factors which will affect a business in both a positive and negative way.

• Internal factors are strengths and weaknesses and external factors are opportunities or threats.

• It can be used to help assess a proposed new purchase of a business.

23http://www.business.qld.gov.au/business/starting/market-customer-research/swot-analysis/example-swot-analysis

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Search Ebscohost for SWOT Analysis Reports

FINDING INDUSTRY

INFORMATION -

ABS

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ABS: www.abs.gov.au

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ABS > Services

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ABS > Services > Small Business

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Useful Documents…

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Measures of Australia’s Progress 2013

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2012 Year Book Australia

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ABS: www.abs.gov.au

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Topics @ a Glance: Economy / Industry

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Western Australia at a Glance

MARKET RESEARCH

COMPANIES - REPORTS

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Nielsen Australia: Market Research Company

-New

s & Reports-

http://au.acnielsen.com/site/index.shtml

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IBISWorld: Market Research Company

www.ibisworld.com.au/industry/home.aspx

GOVERNMENT

REPORTS

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Australian Trade Commission: Austrade

http://www.austrade.gov.au/Invest/Reports-Resources

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2013 Benchmark Report

This report from the Australian Trade Commission provides a comprehensive overview of Australia's performance across a wide range of economic and social indicators.

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Finally, Library Books on Business Plans - for background information

Call Number: 658.4012

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Contact me via email:nancy.stokes@central.wa.edu.au

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