Begin answering the questions in the external assessment form. If you don't already know the answers to some of the questions, then it's ok to skip them, but you need to go back later and do the research to answer them. These are important questions, and you will be thankful for the effort you put into researching and answering them as best you can.
Understanding what's happening in your industry is critical to every business. Basic social and economic awareness helps us stay ahead of change and look for opportunities to exploit that change by adapting our business model. Market trends vary in speed depending on your industry, but new technology for instance, affects every industry at some point, and this change creates an opportunity for those that are paying attention. A lack of awareness often leads to business failure when a company reacts too slowly to changes in its external environment and ends up playing catch up while losing customers.
Begin answering the questions in the external assessment form. If you don't already know the answers to some of the questions, then it's ok to skip them, but you need to go back later and do the research to answer them. These are important questions, and you will be thankful for the effort you put into researching and answering them as best you can.
Understanding what's happening in your industry is critical to every business. Basic social and economic awareness helps us stay ahead of change and look for opportunities to exploit that change by adapting our business model. Market trends vary in speed depending on your industry, but new technology for instance, affects every industry at some point, and this change creates an opportunity for those that are paying attention. A lack of awareness often leads to business failure when a company reacts too slowly to changes in its external environment and ends up playing catch up while losing customers.