LO8

• Diversification- a strategy for expansion into new markets or developing new products
• Non financial factors - difficulties and issues a buisness may face if they want to grow

  • too much completion
  • tax system
  • lack of bank lending
  • cost of running a business
  • too many rules
  • late payment
  • rising energy costs
  • not enough goverment support
• SWOT analysis- this enables the business to analyse their current operations
• business performance- judges if its succeeding and in which areas it needs to improve or maintain in terms of market share
• financial analysis- a variety of different tools that enables a business to review its current financial arrangements, make imporvments and future plans
• Key performance indicator- a measure that a business judges itself against upon the goals that have been set