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Strategic thinking skills are not an optional add-on. They are critical to business success. To embed these skills throughout the workforce, organizations must enable and encourage employees to practice strategic thinking from day one — and every day onwards.
Beth Cummings (Chartered Marketer and Senior Lecturer) talks to Sam Burvill (Business Consultant and Associate Professor) about the 2 key tools to use when developing a strategic plan - SWOT and PESTEL. SWOT is used to assess the internal factors that will inform business strategy. PESTEL is used to assess the external factors impacting on a business. By combining these two analyses, the business can build an evidence-based strategy.
In this video, we provide you with some hints and tips to make best use of these 2 tools to inform your strategic thinking and build an effective plan.