You own a broker business named XYZ Brokers and employ five staff two additional brokers and three staff in support roles. Your support staff assist both you and your additional two brokers in processing loans. They also liaise with lenders and other parties on loan matters.

As a business owner, you are concerned that XYZ Brokers is not achieving the maximum potential it could. You want to make improvements to the business's performance to assist in its growth. This will involve some research and setting out a plan for the future.

Describe how you would 

gain an understanding of the strengths and opportunities for your business

identify the weaknesses and threats to the business

obtain benchmarking data to assist with your review of the existing performance of your business

develop a plan for improvement and growth, and who you would involve or consult

implement and monitor the progress.

Answer rating: 100% (QA)

Understanding Strengths and Opportunities 1 Internal Analysis Conduct a thorough internal analysis to identify the strengths of XYZ Brokers This includes assessing the skills expertise and efficiency ... View the full answer