Definitive Business Plan, Second Edition, The

Understanding the world at large

There is an almost frightening range of external influences that affect you. A few things to mull over are outlined in the following paragraphs – demographics, the economy, political factors, pressure groups, globalization and technology.

These are in a constant state of change. You will find that you can predict trends in most variables and forecast how they affect your business. Moreover, you can develop a strategy to cope with those that cannot necessarily be foreseen, such as a technological breakthrough or a sudden conflict in one of your overseas markets. Major opportunities and threats should be added to your SWOT analysis. You will minimize surprises by understanding the possibilities – quality newspapers, ...