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Sport unit 22 (investigating business in sport and the active leisure industry) notes- business models
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Sport unit 22 (investigating business in sport and the active leisure industry) notes- business models
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Business modelsLearning aim- create a SWOT and PESTLE
What are business models?
These are strategic plans for the operation of business that identify; customer bases,
products to sell, sources of revenue and good financials management.
It can be split up into internal (which the business can control) and external factors (which
the business cannot control).
When business owners put together their business plans, they often use two common
analysis tools, SWOT, and PESTLE.
SWOT analysis
This is used to evaluate a business.
1. Strengths- what does the business offer that is out of the ordinary? (internal)
2. Weaknesses- what does the business require to be successful? (internal)
3. Opportunities- is there an existing or potential new market available? (internal and external)
4. Threats- is local competitors likely to have a threat? (external)
The analysis should help a business owner understand the demands placed on the business,
the environment in which it completes within, and the strength and weaknesses compared
to the competition.
Strengths
Weaknesses
Opportunity
Threats
PESTLE analysis
Politics
Economic
Social
Technology
Legal
Environmental
P- political; government funding for sport, business grants and loans, Brexit, COVID, taxes
E- economic; growth of the economy, interest rates, recession, exchange rates
S- social; the population culture, demographic or approach to business, type of customers
T- technological; technology incentives and innovation, social media, apps
L- legal; legislations and legal frameworks, safeguarding, risk assessments
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