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Business strategy analyses, factors to consider in developing a strategic plan and their application to long-term...

Business strategy analyses, factors to consider in developing a strategic plan and their application to long-term objectives and grand strategies

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Strategic plan must be developed by understanding the Macro environment factors like political, economical , social, technological, legal and environmental ( PESTLE) by the top management of an organization. Apart from this industry analysis, value chain analysis, organizational capability profile and other tools must be developed and analyzed to further utilize in formulating the grand strategies like growth,stability, retrenchment and combination strategy.

If , an organization designs its long term objectives by analyzing the political and social factors then it must be reduce the risks associated with business operations. For example, if , an American company starts business in China or India without understanding the society and political and government led business policies then it will be fail to predict stakeholders likes and dislikes and might be fail to address the challenges associated with that particular marketplace.

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