Factors such as market penetration, market share, profit margins, budgets, financial analysis, capital investment, government actions, demographic changes, emerging technology and cultural trends are also addressed. There are two major components to your marketing strategy: However, in concert with defining the marketing strategy you must also have a well defined methodology for the day to day process of implementing it. It is of little value to have a strategy if you lack either the resources or the expertise to implement it.
Software for Treasurers Environmental Factors in Strategic Planning For any business to grow and prosper, managers of the business must be able to anticipate, recognise and deal with change in the internal and external environment.
Change is a certainty, and for this reason business managers must actively engage in a process that identifies change and modifies business activity to take best advantage of change.
That process is strategic planning. The following diagram provides examples of factors that are agents of change and need to be considered in the strategic planning process. Explanation of these factors is found below. Internal and External Environment All businesses have an internal and external environment.
The internal environment is very much associated with the human resource of the business or organisation, and the manner in which people undertake work in accordance with the mission of the organisation.
To some extent, the internal environment is controllable and changeable through planning and management processes. The external environment, on the other hand is not controllable. The managers of a business have no control over business competitors, or changes to law, or general economic conditions.
However the managers of a business or organisation do have some measure of control as to how the business reacts to changes in its external environment.
Internal Environment Factors Table 1 below identifies important aspects of the internal environment that can significantly impact on the well-being of a business or organisation. Generally the strategic planning process will examine the strengths and weaknesses of the organisation see SWOT analysisand it is likely that significant discussion will center on the relative strength of internal environment business plan environmental factors that influence.
In pursuing both recruitment and training strategies, an organisation is often limited by its financial strength. Nevertheless, training of staff is an essential aspect of good business management, and even in difficult financial circumstances is an achievable strategy.
Organisational Culture The culture within the organisation is a very important factor in business success.
The attitudes of staff and volunteers, and their ability to "go the extra mile" makes a very significant difference. Positive attitudes of staff and volunteers will not only make the management task easier but also will be noticed and appreciated by customers of the business or members of organisation.
Organisation structure is essentially the way that the work needed to carry out the mission of the organisation is divided among its workforce.
PresidentSecretaryTreasurer and Ordinary Committee Membersthe salaried staff of the organisation and all the volunteers that have roles as coordinators of various business functions e.
When an organisation is a for-profit business that operates in a very competitive environment, its organisation structure may help or hinder the ability of the organisation to react to change. For example, when the organisation structure has many levels of management, decision making can be slow as information is carried up and down the hierarchy.
For this reason, "flatter" organisation structures are often preferred i. Volunteers are normal part of the non-profit organisation but not the profit-business. Although it is often hard to find volunteers, the organisation structure of the non-profit organisation can be very flexible by appointing volunteers as needed.
Management The capability of the management team and the leadership styles employed by managers will also have a major impact on the morale of staff and volunteers in a non-profit organisation and organisation culture.
More contemporary forms of management involve workers in decision making processes and trusting that, although managers and workers have different viewpoints, they largely benefit by working together to achieve the business objectives.
Assets The internal environment of the organisation can be made richer or poorer by its assets. The availability of equipment is another asset that can significantly impact on the internal environment. If equipment is in short supply or not of the expected standard, then staff may be hindered in the performance of their duties, or if equipment is used by customers then customer satisfaction will fall.
Financial Strength Financial strength is a factor in its own right that influences the internal environment of the organisation. Despite however good other internal factors may be, it is very difficult for an organisation that is too short of cash to implement strategies within the strategic plan.
If the organisation struggles financially this can impact on staff morale as budgets need to be excessively tight. External Environment Factors Table 2 below identifies important aspects of the external environment in which the business operates. The business cannot control these aspects but can respond to change if needed.
The main problem for business managers is to be able to respond early to change in the external environment, and this depends on how soon any change is identified. Some external environmental factors such as economic conditions are reported daily in the media and managers have a wealth of information on which to develop strategic plans.
However, some external factors may be difficult to identify, particularly of the pace of change is very slow or is hidden from view.
Economic conditions are global as well as national, and when there is a global financial crisis as inchanges in the external environment can be dramatic. Market competition The strength of business competition is a constantly changing factor in the external business environment.
Not only will competitors come and go, but they will also change marketing strategies, product lines and prices. Often such changes are not heralded and business managers must be alert as to what competitors are doing. Technology Technological change has been rapid in the last 50 years and is a factor in the external environment that constantly exerts pressure on the business or organisation.
If businesses do not adapt sufficiently quickly to technological change, they risk losing market share.
Climate change Climate change is an insidious threat because the pace of change may be recognisable only if considered on a decade-by-decade basis.Successful Executive Summary Example. Here's an executive summary example: Terra Engineering Executive Summary Terra Engineering.
Terra Engineering is a new company that will provide high quality technical and environmental engineering services to . Many people resist acknowledging the influence of organizational factors on individual behavior—especially on misconduct—for fear of diluting people’s sense . Decision making is a critical aspect to feeling successful and happy in life; decision making is at the root of all we do.
It is important to develop effective decision making skills and strategies. Problem solving strategies include, but are not limited to brain storming, cost benefit analysis.
How to Write a Business Plan. When how to write a business plan is at the top of the SBA list of the ten steps in how to start a business, it tells you something about how important the experts consider it to be. This article needs additional citations for verification.
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THE MARKETING PLAN IMPROVING YOUR COMPETITIVE EDGE. A Marketing Plan is a written strategy for selling the products/services of a new business. It is a reflection of how serious a company is in meeting the competition head on, with strategies and plans to increase market share and attract customers.