30 years is an awfull long time! 30 years ago we still wrote letters. We still used the yellow pages and did not have email or facebook accounts. We had a typing pool and dictated letters to a secretary. Technology change so fast, it may be more practical to set 5 year goals (long vision) and 1 year goals (immediate plans).Originally Posted by ians
I was thinking about it this week ... if I set another 30 year goal ... I am ganna be 85 ... eeeeeiiish ... maybe I will set shroter 10 year goals
Porter's 5 Forces model is a good framework to work with as so much that happens outside your business influence what happens inside the business.
1. Competition in the industry
2. Potential of new entrants into the industry
3. Power of suppliers
4. Power of customers
5. Threat of substitute products
I've added a 6th: Political environment - Whether you want to believe it or not, BEE, regulations and fiscal requirements do influence the way that you do business!
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