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What is Business Intelligence? If you search the internet for definitions of Business Intelligence you will receive a variety of answers. Is there a common understanding of the relevant elements?
There is no general way of handling the results of a SWOT analysis which fits for each and every business. Every business is different and so are the actions deducted from the SWOT analysis. Here you will find some ideas what to do with the results from your SWOT analysis.
Even though many use the terms strategic planning and long-range planning synonymic, the terms differ in their prominence on the assumed environment.
Remember your audience and your stakeholders when performing your strategic planning. The result should be a document that everyone involved in the planning process understands and supports. If nothing else it should be user friendly and provide clear picture of the organization and where it is heading.
Strategic planning is a management tool for organizing the present on the basis of the projections of the desired future. That is, a strategic plan is a road map to lead an organization from where it is now to where it would like to be in five or ten years.
Strategic planning comprises the procedures of defining objectives and creating strategies to attain those objectives. A strategy is a long term plan of action designed to achieve a particular goal, as differentiated from tactics or immediate actions with resources at hand.
PEST analysis is the acronym for "Political, Economic, Social, and Technological analysis" and illustrates a framework of macro-environmental aspects used in environmental sensing. Economic surroundings affect how easy or how difficult it is to be successful and profitable at a certain time because they influence both capital availability and cost, and demand.
Business takes place in a very competitive, unpredictable environment, so it is important to understand the competition.
How can industrial or corporate espionage be compared to competitive intelligence? Competitive Intelligence research can be distinguished from industrial espionage, as CI practitioners in general abide by local legal guidelines and ethical business norms.
Simply, a business wargame is the adaptation of military wargaming to a business environment: it helps a company with strategic, operational and tactical planning, and execution.
Competitive Intelligence