100 Understand Opportunities and Threats
The purpose of most strategy implementation efforts is to exploit opportunities and/or to counter threats. You have the advantage of being able to select the opportunities to pursue. Threats, on the other hand, may be imposed on you.
Where should we look to identify opportunities and threats? Major sources include the industry (for substitute products or disruptive technologies), competitors (to assess their strengths and weaknesses), the general environment (for economic, social, political, or technological events and trends), and the organization’s specific environment (for shifts in market characteristics). In particular, listen to your customers’ feedback and questions.
It is usually better for your ...
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