Friday, May 12, 2017

Strategic Planning: Defining the Business Environment Part 1

Awareness of the organization's environment is becoming increasingly more critical for businesses since the demands of the environment are growing and changing more rapidly all the time. Many organizations only discover the importance of their surrounding environment when their existence is being threatened. Because most markets have become world markets with worldwide competition and because market conditions are currently changing so rapidly, it is becoming increasingly important for organizations to understand and adjust quickly to the environment that surrounds them.

  • Key Customers
  • Key Stakeholders
  • Key Suppliers
  • External Influencing Factors
  • Current Market Conditions
  • Key Competitors  
  • Core ideology defines the company's reason for being.
  • It expresses the reason for being that is more than making money or even delivering a particular product to a particular customer.
  • It can be considered the "heart and soul" of the organization and result in a shared vision which gives meaning and purpose to the work people do.
  • A good core ideology transforms an organization from a  normal place of work to one which inspires people and brings out their best.
Until next time...

Sheryl Tuchman, SPHR, SHRM-SCP

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