It should include a market research that identifies your competitors, their share of the market and the range of the products they produce. By learning how they conduct their operations, you may learn tricks of the trade in the business you want to enter and you also get to have a basis on what you can do to excel.
Management by objectives (MBO) is a process of agreeing upon objectives (as can be detailed within business plans) within an organization so that management and employees agree to the objectives and understand what they are in the organization.
The market potential for your service or product-You need to convince your customers and employees for your products and services you are offering and hence you have to find out the market which needs that product or service.
Total quality management (TQM) is a business management strategy aimed at embedding awareness of quality in all organizational processes. TQM has been widely used in manufacturing, education, call centers, government, and service industries, as well as NASA space and science programs.
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