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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.
What else can I help you with?
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?
What factor is used to describe and forces outside marketing that affect marketing management?
A company's marketing environment.
How does economic environment affect international marketing?
yes
Macro environent in marketing?
The macro environment in marketing refers to the major external and uncontrollable factors that affect the market environment.
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.
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?
What factor is used to describe and forces outside marketing that affect marketing management?
A company's marketing environment.
How does economic environment affect international marketing?
yes
Macro environent in marketing?
The macro environment in marketing refers to the major external and uncontrollable factors that affect the market environment.
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.
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.
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.
What are the Seven external factors that could influence business and marketing and the meaning?
The seven external factors that can influence business and marketing include: Economic Environment: Refers to economic conditions, such as inflation, unemployment, and consumer spending, which affect purchasing power and consumer behavior. Political and Legal Environment: Involves government regulations, policies, and political stability that can impact business operations and marketing strategies. Social and Cultural Environment: Encompasses societal trends, demographics, and cultural norms that influence consumer preferences and values. Technological Environment: Relates to advancements in technology that can create new opportunities or disrupt existing markets and marketing methods. Competitive Environment: Involves the actions and strategies of competitors that can affect market positioning and pricing. Natural Environment: Considers ecological and environmental factors, such as climate change and resource availability, that can impact business practices and consumer attitudes. Global Environment: Pertains to international markets, trade policies, and global economic conditions that affect businesses operating on a global scale.
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.
Describe the seven external factors that affect marketing Discuss the advantages and disadvantages of one external factor when it comes to marketing your product or service?
Describe the seven external factors that affect marketing and business
