Dec 3 2023

Some key concepts in business planning

This article is part of our series of articles on business planning and business strategies. You can find more articles in the series by clicking on the link below.

To GoalEnvision's article series on business planning...

 

Term

Definition

Business strategy

The overall plan that describes how a company will achieve its long-term goals.

Mission/Business idea

A short and concise description of the company's purpose and what it strives to achieve. Read more about formulating the business idea...

Vision

An inspiring vision of the future that describes what the company looks like when it has achieved its goals. Read more about formulating the vision...

Goal

Concrete achievements or results that the company strives to achieve. Read more about goals...

SWOT analysis

A method for identifying the company's Strengths, Weaknesses, Opportunities and Threats. Read more about SWOT...

Target group

The specific group of customers or markets that the company aims to reach and serve.

Competitive analysis

Evaluation of competitors and their strengths and weaknesses to identify opportunities. Read more about analyzing the situation...

Market analysis

A survey of the market to understand customer needs, preferences and trends. Read more about analyzing the situation...

Strategic plan

A detailed plan that describes how the company will implement its business strategy. Read more about strategy development...

Core values

The fundamental principles and beliefs that guide the company's culture and decisions.

Portfolio management

The management of the company's various business units, products or services to maximize profitability and growth. Read more about resource allocation...

Implementation

The process of transforming strategic plans into practical action and implementation. Read more about how GoalEnvision helps you implement strategic business plans...

Balanced scorecard

A strategic tool used to measure and monitor performance in various aspects of the company's operations. Read more about balanced scorecards in GoalEnvision...

Risk management

Identification, assessment and management of potential risks that may affect the company's goals and strategies. Read more about risk management...

Tactical planning

Planning concrete measures and initiatives to support the company's overall strategy. Read more about business planning...

Två kvinnor med en laptop samt tecknade illustrationer runtomkring

Try GoalEnvision's digital strategy tool - simple and effective!

Are you an entrepreneur or leader with high ambitions? Do you want to unleash the full power of your organisation to exceed your business goals?

Then GoalEnvision is definitely for you! You can try the tool free of charge for 30 days. No obligation. 

Try GoalEnvision's guided flows, AI assistant and strategic help to successfully plan, execute and follow up on your strategy.