Business Competitive

It includes the skills and knowledge your company possesses and is a major determinant of your success. In this step you need to identify your strengths, areas needing further study and areas of concern that could seriously affect your ability to stay competitive. Once you are through with this step, you would have access to practicable online information and other references that will help you bridge any knowledge and skill gaps. Filling these gaps will help in making your organization better prepared and to ascertain benefit from valuable information relating to the various management functions.


Pre-Planning is the process by which the management of an organization foresee its future and develop the necessary measures and operations to achieve the goals of future. It includes development of the purpose, mission, vision, and value statements of the managing teams; communication of these documents and suggestions for improvement, culture survey to create a base against which change can be compared and last but not the least celebrating achievements and learning from mistakes. After Pre-Planning the team needs to formulate strategies and, clearly identify an action plan on which implementation is to be performed. As part of this phase, you will also need to repeat your mission and restate your company's vision. Although there are many kinds of strategies but in this situation basic strategy should not change much in the short term, whereas sub-strategies can change rapidly in reaction to competitive situations.


Financing plan is developed to increase the business competitiveness through an improved knowledge of the techniques and methods of funding available. Equity and debt are two types of financing available to business. Equity is the money that you put into your business and Debt is what you borrow from others to invest in your business.


The businesses are becoming more dependent on technology. By optimizing the use of technology, the business may maintain progress, improve its customer services, and gain a competitive edge over those businesses that are not utilizing their technology. In the modern world the change of information technology has become a vital part in competition with the real world. Now the Question is that why do we use technology in business? The answer is simple that it enhances customer service, can decrease cost, can improve communication, can facilitate research, can increase productivity, efficiency as well as effectiveness in the business.