Question
You have recently been hired as a strategic planning consultant for a new client, and your task is to conduct an external assessment to formulate
You have recently been hired as a strategic planning consultant for a new client, and your task is to conduct an external assessment to formulate strategies that will help the company achieve its goals. In order to accomplish this, you are required to address the following:
1. Describe the nature and purpose of an external assessment in formulating strategies.
2. Identify and discuss ten external forces that impact organizations. In your answer, explain why each of these forces is important to consider in strategic planning.
3. Explain Porter's Five-Forces Model and its relevance in formulating strategies. In your answer, provide examples of how this model can be used to identify opportunities and threats.
4. Describe key sources of information for identifying opportunities and threats. In your answer, explain why it is important to gather information from multiple sources.
5. Discuss forecasting tools and techniques. In your answer, provide examples of how these tools can be used to predict future trends and outcomes.
6. Explain how to develop and use an External Factor Evaluation (EFE) Matrix. In your answer, provide an example of how this matrix can be used to evaluate external factors that impact an organization.
7. Explain how to develop and use a Competitive Profile Matrix (CPM). In your answer, provide an example of how this matrix can be used to compare the strengths and weaknesses of a company with those of its competitors.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started