Strategic planning is a fundamental activity that all businesses must undertake to achieve success.
Strategic Goal Management helps business owners and leaders with strategic planning to deliver strategically focused goals.
Our strategic planning services
The fundamentals of a strong business over the long term are built on well-thought-out strategic plans. We help you grow from strong foundations with a rigorous strategic approach risk management, finances, people, processes, and products/services.
What is PESTLE Analysis?
PESTLE analysis is used to understand the external factors that could impact your organisation in the wider macro environment. PESTLE analysis is broken down in more detail below:
Current political factors could include the war in Ukraine and its impact on the global supply chain and gas prices. Moreover, the uncertainty over the current government’s fiscal policies and the pound’s value could impact your business.
Another example could include how the UK COVID-19 policies impacted businesses and their customers.
The current rate of inflation and the subsequent increases in the cost of living is likely impacting your business, your customers, and your staff.
The culture of your business is an important factor; demotivated staff are unlikely to perform to their maximum potential. Do you have just culture or a blame culture? Is working from home becoming a problem for your business?
Remember the sociological impact that COVID-19 had on potential customers.
How will changes in technology impact your business?
Is technology a risk, and will your services or products remain viable due to technological advancements?
For example, think of the impact that Airbnb has had on hotels and bed and breakfasts since its launch. Or the demise of the combustion engine in car production.
Compliance with the law is a legal requirement; if any of your processes or company actions break the law, you could be liable under corporate liability.
Environmental factors that impact business are becoming increasingly prevalent with such a strong emphasis in the media. Moreover, political groups such as Just Stop Oil have taken ever-increasing extreme measures to disrupt the UK.
Another example of environmental scope creep can be seen in nearly all public sector tender submittals, where companies are scored on their environmental policies. This could include the need for an ISO14001 Environmental management system as a tender requirement.
What is SWOT Analysis?
SWOT analysis is a strategic planning tool that can be used to ascertain business strengths, weaknesses, opportunities, and threats. It can be used to help the decision-making processes, and it effectively captures the status of a business. When used in conjunction with PESTLE, the analysis can be very helpful to business leaders.
An important part of the strategic planning process is to ensure that business risks are identified so that they can be categorised and mitigated. Risk management is a necessity if strategic plans are to be successful.
The table below is a guide based on our fictional Company X. (Click to enlarge)