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Strategic plans are important for any business, and they are never really complete. Business owners should consider strategic plans living documents that direct the work of the organization but that are flexible enough to be modified as changes in the environment require shifts in direction for the organization. It is important to have a process to monitor changes and incorporate them into a company's planning efforts.
External ImpactsStrategic planning can be affected by various changes in the external environment in which a business operates. New competitors move into the market. Existing competitors leave the market. Population shifts result in increases or decreases in population. The economy may change either positively or negatively. No environment is stable over time, so organizations must be alert to external impacts that can affect their planning. This means businesses must view planning as an ongoing, not one-time, event, says Linda Pophal, a strategic planning consultant with Strategic Communications, LLC. Companies should have a process in place for continually monitoring the environment that represents their market and their industry and alerting the appropriate people to changes that can affect the plan, she says. Internal ImpactsThe internal environment also can affect strategic planning efforts. Suppose a key employee leaves or several employees suddenly leave. Suppose a new employee with unique skills in a new area joins the company. Suppose new technology is introduced that employees don't yet know how to use. Just as the external environment can shift, causing companies to revisit their planning efforts, so can the internal environment. Changes in the Planning TeamOrganizations that have a formal planning process often assign a team of people to create and manage the strategic plan. Changes in the team--from its leader to any one of the participants--can affect planning efforts. All teams go through standard and expected changes as they grow and mature--forming, norming, storming and performing, according to psychologist Bruce Tuckman's business model. As changes in team members occur, the team again will go through these expected stages, Pophal says.
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How does Proctor Gamble selling soap in France affect a U.S. marketing strategy?
Are you in my Marketing class? LOL..... Which Marketing class would that be?
How does economic environment affect international marketing?
yes
What factor is used to describe and forces outside marketing that affect marketing management?
A company's marketing environment.
Macro environent in marketing?
The macro environment in marketing refers to the major external and uncontrollable factors that affect the market environment.
What are the international marketing variables that will affect coke?
A country's infrastructure will affect Coke's marketing strategy. Without the ability to reach them online, Coke would have to change their approach.
What factors in marketing environment might affect your marketing strategy if you were a fast food business?
consumer behaviors influences marketing strategy
Why is the environment important to business?
The environment is important to business because on a daily basis we interact and live in an around it and what ever decisions we make will affect us within the environment whether it is positive or negative.
How does Proctor Gamble selling soap in France affect a U.S. marketing strategy?
Are you in my Marketing class? LOL..... Which Marketing class would that be?
How does economic environment affect international marketing?
yes
What factor is used to describe and forces outside marketing that affect marketing management?
A company's marketing environment.
Macro environent in marketing?
The macro environment in marketing refers to the major external and uncontrollable factors that affect the market environment.
What are the international marketing variables that will affect coke?
A country's infrastructure will affect Coke's marketing strategy. Without the ability to reach them online, Coke would have to change their approach.
What external factors affect marketing strategy?
There are many external and environmental factors that affect marketing. Some of these include economy, government, supply lines, and consumer trends.
How does technological environment impact a small business?
The technological environment consists of those forces that affect the technology and which can create new products, new markets, and new marketing opportunities.
How does the company itself affect the company as marketing environment?
Today's company is, in effect, THE MARKETING and not something that affects it. Every company behavior, statement, and policy has implications for one or more stakeholder communities, so it's helpful to look at business operations as components of marketing.
What are the factors that affect business environment?
Andrew Broadbent
Changes in business environment?
Changes in the business environment can encompass a variety of factors, such as technological advancements, shifts in consumer behavior, economic fluctuations, regulatory changes, and competitive dynamics. Businesses must adapt to these changes by being agile, innovative, and responsive to stay competitive and thrive in the evolving landscape. Staying informed, leveraging data analytics, fostering a culture of continuous learning, and building strong partnerships can help organizations navigate and capitalize on these changes effectively.
