Laser Lessons - Lesson

P5DMALC1-1

Table of Contents

In this tutorial you will learn:

That a strategic plan shapes the long term direction and vision of business
Some of the internal and external factors that affect strategic planning
About the importance of stakeholder involvement

Table of Contents

‘What is PESTLE analysis? A tool for business analysis’ from the Pestle Analysis website
‘Porter’s Five Forces: Assessing the balance of power in a business situation’ from the Mind Tools website
‘Strategic Planning: A worthwhile process?’ written by Nancy E. Lins
‘Balanced scorecard’ from the Business Balls website
‘FT Essential Guide to Developming a Business Strategy: How to use strategic planning to start up or grow your business’ by Vaughn Evans, published by Financial Times Series 2013

Think And Challenge

It is rare that there is just one way to respond to a scenario or situation, so do not consider that the response you have chosen to this scenario will be judged as right or wrong. Share your scenario with a work colleague and ask them to tell you if they think you have responded appropriately. Ask them to challenge your response if necessary. You do not need to submit this task for assessment unless asked to do so by your tutor.