Whether you class this as marketing or general business strategy (and where do you draw the line?), the importance of developing a clear strategy - and actioning it - cannot be underestimated.

I attach here some brief notes from strategy workshops I have led, which focuses on STEP (Social, Technological, Economic and Political analysis - some call it PEST) and related competitor analysis.

I have included it as a Word document so that you can actually use it if you feel you can generate this information in your own workgroups.


Happy to answer questions, discuss.



kind regards

Stephanie

Attached Files

STEPWshop.doc (146.0 KB, 3 views)

__________________
Dr Stephanie Morgan
Crosslight Management
www.crosslight.co.uk

Thanks for this, even as a small business I think this type of process is useful, helps us to think outside the box - I may need to get you to facilitate though!

But a question first - should we fret too much about where we fit things? For example, we were discussing how the new legislation about vetinary products being sold now at pharmacies may mean our client behaviour will change, though have to consider how this will affect us (it will certainly affect Vets!)

So do we class that as a political or a social change?

In the CPD for the institute of management consulting one of the criteria for membership of the CMC status is acknowledgement of the importance of understanding the broader environmental issues affecting strategy development - although a little throw away and lip service it strikes me from your posting that we often miss these broader level changes.

Understanding how these broad contextual factors really impinge on what we do as managers is critical - to develop a strategy that by reason of social change no longer is required or becomes redundant for example seems so important that to leave doing this analysis seems to miss the whole point.

Interesting paper - I will read and get back

Cheers

John

Dear Alice, all,

I think the important thing is that you have considered the change - where it 'fits' on the quadrant is less important than what you do with the information. Thinking it through and running scenarios about what these changes may mean for you and your customers is the vital part.

As John has said, these broader changes are often forgotten and are yet can make the difference between your longer term success or failure!

kind regards
Stephanie

__________________
Dr Stephanie Morgan
Crosslight Management
www.crosslight.co.uk