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Business Leader | Business Consultant | Pharma Sales and Marketing |

Dear Avid Readers, What is that one of the most important skills which top leaders prioritize? “Strategic Business Planning” It is a must for us to familiarize and learn with strategic planning tools like # SWOT analysis (Strengths, Weaknesses, Opportunities, Threats) Strategic leaders conduct a SWOT analysis at the beginning of their strategic planning to assess both internal and external factors that contribute towards success. # PESTLE analysis (Political, Economic, Social, Technological, Legal and Environmental) Strategic leaders use these factors to evaluate an industry or business environment and recognize elements that could affect the health of the company. This model is useful for the strategic leaders to examine external factors rather than internal operations that affect company goals. # Porter’s Five Forces analysis This strategic process model focuses on the five different areas of external competition and internal business operations. These areas include + threat of new competitors entering the market, + threat of substitute products or services, + bargaining power of suppliers and customers and + level of competition between existing firms on the market. Strategic leaders create goals that account for these concerns and prevent them from affecting the business negatively. It involves creating mitigation strategies and forecasting risk. These frameworks will help us to think more strategically about positioning and competitive advantage. For more details let's refer https://lnkd.in/gAY428TC

15 common strategic planning models (With definitions)

15 common strategic planning models (With definitions)

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