The 4 Business Plan Threats

There are four critical areas that cause business plan for change. All the trends are changing the economic environment. The four areas we will examine are: 1) the tendencies of the government, 2) economic trends. 3) technological trends and 4) cultural trends. Everyone makes a specific impact on our decisions, and requires us to make adjustments. Some changes are dramatic and require dramatic reactions to minimize their effect on our business.

First are the trends of the government. There are several sources caused by changes in regulations, tax policies and new legal precedence. Most of these are not a direct result of what we're doing in our business, but are the result of political and social changes. From a legal standpoint, the changes result from court cases. It 's absolutely necessary to address these changes as a result of both legal and financial risk. The result will change not only our business plans, but also our business conduct.

Second are the economic trends. These changes are caused by environmental changes, local, national and international. Typical of these trends are changes in inflation rates, interest rates and the comparative value of the currency (exchange rates). Note that all these changes are directly and indirectly effects of government actions. These trends require us to adapt our business plan to the new conditions.

Then there are technological trends. The amount of effect that these trends have on our business depends on how the changes directly impact our operations today. For example, if we are making vacuum tubes, integrated circuits when they arrive, we make some important changes. Note that the changes in our business plan can mean to buy or learn new technologies, upgrading our people, or looking for new customers and products. Inventors, with lifestyle changes or introducing new product ideas, usually enable these trends. We can prepare for these changes, keeping up-to-date with trends, new advances and what our competitors are doing. It could mean new sources of raw materials, different marketing techniques, or perhaps the loss or emergence of a new market.

Finally, cultural trends have a direct impact on our business plan and the business environment. The demographics of our customers may change, new social concerns may arise and new lifestyles evolve. If our customers move from the cities of the country, our activities will be influenced not only what we sell, but also in how they deliver it. Too, such as changing social conscience, acceptable business practices will change. These could include environmental and social programs. For example, the government could require a business to provide a certain level of retirement benefits. These trends often companies with new costs and burdens of unplanned, but it must be assimilated into the business plan to remain a viable business.

Note, these types of trends have a clear impact on our business plan. They are all threats to present and will also present new business opportunities. In the event of changes in our business to become warm, friendly staff, or our modern technologically mature new public interest activities leading to new sales. Too, receive free advertising that positively impacts our credibility and stature of business. Regardless of the fringe benefits to our business, we must always be aware and open to new directions so that our business plan and operation will not stagnate or become less functional in the changing environment....