Environmental Forces and Strategic Planning

Firms and their managers do not operate in a vacuum. Instead, each of their activities, including strategic business planning, must be undertaken and understood in the context of the specific demands and requirements of the environment in which the company conducts its business activities. Among other things, the environment determines the resources that will be available to the company, including capital, human resources, raw materials, and technology. In turn, the environment also determines the success of the company as measured by the acceptance of its products and services, profitability, and satisfaction. Feedback on the outputs of the company’s activities can be used to evaluate and ...

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