Report and Discussion

Making a good report is every student's task, from scientific analysis to business plan. It is an essential part of our studies and that was why we were given some tips in making good report. Here they are:

1. simplicity, the report should be straight to the point of discussion
2. clarity, the language used should be clear and easily understood
3. accuracy, the facts presented should be from trusted source
4. completeness, the contents should meet the standards given
5. relevance, it should stick and always be related to the main topic
6. objectivity, use of formal language
7. brevity, there should be a brief description about the topic being analyzed
8. reader oriented, the language used should suit the targeted reader
9. appendix, support materials should be mentioned

These are the things that we can do to improve the quality of our reports. It will be very useful for us when we are making SWOT Analysis and Marketing Plan for our mid-term and final-term exams respectively.

After the discussion on making good report, then we went back on the theory. Today, we learned about SWOT and Context Analysis.

SWOT Analysis is a strategic planning method used to determine the strengths, weaknesses, opportunities and threats of a business venture. Strength and weaknesses are internal factors while opportunities and threats are external factors. For new comers like us, this method should be very useful in analyzing our competitors' as well as our ability in surviving the market we are going to get into. This way we can maximize the use of our strength and exploit the opportunities presented to us to earn success.

Context Analysis is a method to analyze the environment in which a business operates. This includes the economy of the country, technology, socio-cultural, regulatory and physical context. In my business subject in high school, I also learned a similar concept called PESTEL Analysis that covers the political, economical, social, technological, environmental and legal factors that can influence business activities. We need to be aware that these things can affect the planning or decision making of our business. For example, we can use the improvements in technology in getting better product quality and more effective, time efficient production rather than with the use of man power.

Even for a small scale business like ours, we need to take into account the external factors happening around us that can affect our business activities such as changing trading policy, environmental concern (e.g. global warming or waste) and changes in currency rates.