Ways to Improve Business

Practices Guided by the

Philosophies, Belief System or
Filipino Values
Presented by Group 6
 As a business owner, you are probably aware of where your business could
improve. Sometimes business owners want to improve their business but are
not sure how to begin. This is an overview of some key steps you can take to
start improving your business.
Assess your situation Before you start making changes,
it is a good idea to make sure you have a full
understanding of the factors affecting your business
success. These may include your current business
practices, market trends, or changes to the wider
environment in which you operate.
Tools that can help you assess your
business' situation include:
•SWOT-analysis helps you identify your business' strengths, weaknesses,
opportunities, and threats.

•Benchmarking measures your business' performance against similar- sized

businesses in your industry.

•Market research investigates your business' market and industry to identify trends,
changes, and customer or client demands.

•Trend analysis uses business data collected over time to identify consistent results or
trends.

•Webinars (web-based seminars) provide useful information to help develop your

business skills.
Set clear goals.

Business goals can be as broad or as specific as you

want them to be. Writing down your goals clearly will
make it easier for you to achieve them. Make sure your
goals are S.M.A.R.T.:
•Specific-state clearly what you want to achieve.

•Measurable-make sure you can evaluate the success.

•Achievable- check if your objective is something you have the time and
resources to meet.

•Relevant- make sure your objectives improve profit drivers and improve some
part of your business.

•Timely-set a specific date for completion.

Once you have written down your goals, you should prioritize
them to decide which ones to focus on first. Some goals may
need to be more urgent than others. It is also important to
recognize that some goals will need to be addressed with a
long-term strategy as you will not be able to meet them
immediately because of resources, finances, or time.
Identify strategies for achieving your goals Review your goals and list
the factors you think are creating your current circumstances. Think
about what strategy you could use to improve the situation. Depending
on the goals you are trying to meet, you may want to think about using
the services of a business professional such as a professional trainer,
contractor, or business adviser. Think realistically about what you can
do yourself and where you may benefit from some support.
Develop a plan for implementing your strategies

To achieve your goals, you need to work out how to implement

your strategies. Strategies often include several specific actions or
tasks. It is a good idea. to develop a plan on how you will do this.
Write your plan in a format that suits you.
It should include:

•a time frame how long a task will take to complete as well as the start and finish
dates.

•actions state the individual actions as precisely as you can.

•responsibilities assign accountability for each action so everyone knows
precisely what you expect from them and who is responsible for ensuring the
work is done.

•resources list budget, staff, or supplies needed to complete each action.. a

desired outcome completed. state how you will know that the action has been

When you have developed your plan, you might want to also update your
overall business plan.
Measure the results Establishing how you will measure the results that
you want to achieve may be as simple as checking what you have
completed. With larger goals, you may have to establish a more
complex measurement process like increasing profit by a set
percentage, or gaining a particular number of new clients. With these
types of goals, it can also be useful to set points to measure their
success as you are working on them. This will help you keep your
plan on track. Consider how often you want to measure your business
achievements. This can also help you set new goals regularly. Learn
more about measuring the success. of your innovation.
Question
Time