From the course: Business Development: Strategic Planning (2019)
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The future external environmental scan
From the course: Business Development: Strategic Planning (2019)
The future external environmental scan
- When we think about developing strategic plans, we tend to think about ourselves, our business, and what is happening inside of our company. We think about what we want, what our goals are, and what we need to do to achieve those goals. Now, all of that is important, but if we stop there, just focusing on our business and our goals, we will fall short of what we really need to understand to make our strategic plan effective and successful. Think about this, in today's marketplace, there is more happening outside of your organization than inside that could impact the success of your strategic plan. What if you had a recession hit, could that impact your plan? New competitors enter the marketplace, could that hinder your goals? What about new technology, could that change how you carry out your plan? Of course it does. Designing a strong strategic plan is as much about creating focus as it is about flexibility. Paying attention to the changes in the marketplace and being able to use…
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