James, Strategy Specialist at GBC, 2 minute read, 9 min video
I have noticed that there’s just too much “noise” around strategic planning that even when a remarkable product or tool enters the industry, it risks getting lost in the “noise”. Business owners, CEOs and managers are inundated with planning tools and models that make strategic planning difficult and to some extent, unrealistic to small & medium sized businesses. When we created StratPlan, we were cognisant of the “noise” surrounding strategic planning and decided to develop a strategic planning software tool that practically applied various analytical tools to any company, regardless of type and size, and does not discriminate between industries. We knew that in order to cut through the “noise”, we had to build our software to incorporate all of the fundamental frameworks and analytical tools into a single and concise application that you can draw meaning conclusions to. So, I want to show you what the outcome looks like when you combine all of the most important strategic planning frameworks into a concise application.
But first, here’s a bit more background. Each of the analytical tools presented in our previous blog posts – PESTEL, five forces of competition, driving forces of change, strategic group maps, competitor analysis, SWOT analysis and key success factors provides a fundamental look on an industry’s outlook for future profitability. In many instances, these analytical tools would have been independently used and analysed, however we believe that putting them all together provides an even richer and more definitive outlook of the industry. Now that you have used these analytical tools to analyse your company’s external and internal environments, it’s time to use the analysis to determine whether the industry presents the company with good prospects for competitive success and high profits.
In StratPlan we have incorporated six questions that helps to determine whether your company’s industry presents your company with strong competitive prospects and profitability. The answers to these questions provides you with a general proposition whereby the industry environment is fundamentally attractive if it presents good opportunity for attractive profits and conversely, the industry outlook would be fundamentally unattractive if profit prospects are unappealing low. Here’s a short video to show you how to determine if your industry outlook is conducive to good profitability in StratPlan. I hope you enjoy the video!
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