Select business creation and development tools which are most appropriate for a specific client business
The ideal scenario here is that , students select business creation and development tools which are most appropriate for the specific client business they are working with on their group task. In the lectures it was mentioned that tools such as Five Forces or SWOT may not be the best tools for these early stage businesses although a lot of the Five Forces may be relevant in relation to BIG Associates, we are working on.
Please read the attached Frost paper on tools used by SMEs (attached). It provides a good list and also the context in which they are applied. according to our teacher. Certain ones would be very useful for the BIG Associates project such as competition benchmarking or market segmentation.
what is under consideration here is the ability to effectively analyse and scrutinise the scope of these business tools to provide an appropriate analysis of the client business considering both the nature of the firm and the objectives of the client.
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