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Laws and Regulations

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Legal and regulatory: Today businesses have many laws that they must abide by to stay in compliance with the government. Abiding by these rules allows flexibility and adaptability of law and other legal rules governing the business.
Global: Many companies do business globally to branch out to larger markets. Businesses that operate globally must consider all aspects of competition that may affect the external trends of the business.
Economic: Economic factors affect the external trends of business because a company has to plan how to spend money and how it would benefit the company.
Technological: Technology is important in strategic planning because this allows an organization to reinvent the business and stay in the loop with the rest of the competition.
Social: Social factors are extremely important with planning. Placing the right organization in the right place with the right products can help with the success of the business.
Environmental: The environment where a business is located is important to a business because the community and a business must coincide collectively to allow success of the organization.
Resources: Resources in all aspects are important to the planning of an organization. A good human resources department is important to getting the right people into the organization.
Goals: Goals are important to strategic planning because it allows the business to set them and give them a timeline to attain these things. This is beneficial to the organization and customers.
Culture: Organizational culture is one of the most important factors when it comes to strategic planning because this is setting the tone for the entire organization.
Intellectual Property: Knowing one’s business is important in strategic planning because having a complete understanding of the products and the business aspect allows the business to be successful.

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