Strategic Management

Essay text:

Economic: At the macro- and micro- levels, what is the economic environment that will impact your customers and your suppliers? What factors in the economic environment will directly impact your costs and revenue potential? b. Technological: What old technologies are being used? What new technologies are emerging? Do they help you pursue your business goals, or do they compete with your product or service? c. Political-Legal: Will you face any restrictive regulations, or a political-legal environment that offers benefits? d. Sociocultural: What demographic and social trends affect your main customer base or related markets? Will they cause the market to expand or shrink? Are attitudes shifting in favor of your product? Are they shifting against a competitor? Economic Technological Political-Legal Sociocultural GDP Trends Total government Antitrust regulations Lifestyle changes Interest rates spending for R&D Environmental Career expectation Money Supply Total industry spending protection law Consumer activism Inflation rates Focus of technological Tax Laws Rate of Family Unemployment levels efforts Special incentives formation Wage/price control Patent protection Foreign trade Growth rate of Devaluation/ New products regulation population Disposal and Laws on hiring and Age distribution of Discretionary income promotions populations Stability of government Birthrates Regional shift in population Forecasting tools and techniques There are basically three types of questions about future states which efforts at forecasting might address...