Which model will you choose?
Reviewing your current business environment is an important part of any planning process. What’s going on around you? What changes are happening? What are the dynamics that may impact your business?
There are a couple of models you can use to help structure your thinking.
The Simple Value Chain. Take a look at what’s happening to your Suppliers, Industry, Channels / Direct Customers, Consumers.
Be a PEST. You can also supplement this analysis with a PEST (Political, Economic, Social, Technological) Analysis which is more focused on macro factors and trends.
Strategic Radar. Another model that is worth casting your eyes over to help stimulate your thinking and to identify what might be flying under your radar is the Strategic Radar. It highlights 29 disruption factors and poses 8 questions to consider.
No matter what model you choose to use - it’s important to pause, get in the helicopter and consider what’s moving and changing around you so that you can adapt and respond accordingly.