Business knowledge
Knowing the business means understanding and knowing the various factors that help in running a business successfully. This knowledge includes a detailed understanding of the industry, target market, competitors, customers, opportunities and environmental threats, as well as knowing the strengths and weaknesses of business partners, as well as internal resources should be fully identified.

In order to achieve its goals, every business needs to know itself, for this purpose it is necessary to first know the dimensions of the knowledge.

The recognition of the company should be done from both internal and external perspectives. Usually, for this purpose, SWOT or other tools are used, in which the strengths and weaknesses of the company and the leading opportunities and threats are discussed.

Every business must know what factors it is facing outside and in the internal environment and what effect each of those factors has on the company.

For this purpose, the financial status of the business, the status of competitors and customers, as well as the products, services and ideas of the business should be fully investigated and understood.

Of course, checking the status of shareholders, financial statements, human resources, business processes and other variables is a part of this stage.

So, if we want to prepare a plan for a business at different levels and compete based on the compiled plan, it is necessary to do a complete and 360-degree understanding of the business.

Business analysis

Business analysis means a detailed examination of internal and external factors that affect the performance of a company or organization. This activity includes studying competitors, customers, market, industry trends, innovations and financial data. With this analysis, people, management and investors will be able to more accurately determine the optimal strategies for business growth.

After the stage of knowing and collecting the obtained information, it is necessary to process and analyze the collected information, the analysis of the information helps us to identify the causes and effects and the state of the company compared to Determine competitors.

Undoubtedly, in the processing and analysis of data and information obtained, we get very important points that can determine the gap of the company in reaching its goals, for this purpose, software such as SPSS, Lisrel, etc. are usually used. will be

Analysis of financial statement information helps us to identify the strengths and weaknesses of the company in financing, liquidity situation, profitability and financial and operational or compound leverages.

The analysis of the obtained information also determines the impact of different parts of the business in reaching the goal. These analyzes help managers and business owners to adopt the appropriate strategy for the company’s position and situation.

Therefore, in order to succeed in developing the required plans, it is necessary to have a correct analysis of the business so that we can design the development path of the company in the best way. (more information)

After analyzing the information obtained from the following tools, decisions are made about the portfolio of businesses and products.