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By Tony Grundy
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Read Online or Download The Ultimate Book of Business Skills: The 100 Most Important Techniques for Being Successful in Business (Capstone Reference) PDF
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Extra info for The Ultimate Book of Business Skills: The 100 Most Important Techniques for Being Successful in Business (Capstone Reference)
Sample text
Our second technique is that of growth drivers. Growth drivers (at the level of the economy) are those underlying factors that either generate or inhibit growth in aggregate demand. These drivers can be represented as vectors (see Fig. 5). Political Technological Economic Social Fig. indd 31 Using PEST analysis 05/12/03, 19:18:55 32 • Strategy Skills Public sector spending increases Manufacturing competitiveness Fig. 5 now highlights a not-so-healthy economy. It also suggests that, at least until the end of 2004, the economic environment is likely to be tight, especially should house prices collapse, unemployment increase, and there not be any stock market recovery.
Product development (p. 69). • Risk and uncertainty analysis (p. 44). • Selling (p. 72) – especially for tendering. • Storytelling (p. 47) – about how a competitor may behave in future. • Strategic thinking (p. 49). Competitor awareness has a very wide-ranging impact on other key business skills, and is therefore an essential ingredient in an all-round, general manager. ’ Divestment is far less sexy than acquisitions to many managers, as it is associated with perceived failure. But it can add value (its pros) in a number of ways, for example through: D • the elimination of low-value/value-destroying activities, • the business being worth more – either in perceived or real terms – to another business, and • reducing the complexity of your business portfolio, thus enabling you to gain a clearer focus on future strategy development.
57), global awareness (p. 38), imagination (p. 247) (especially of what might be, as opposed to what is), market awareness (p. 62), option generation (p. 249), problem diagnosis (p. 254) (in order to lift out of this problem, to another thought-space), storytelling (p. 47), strategic thinking (p. 49) (a more formal structure for applying helicopter thinking). ’ The pros of regulatory awareness are: R • you will be in a better shape to respond to disruptive or incremental regulatory changes, as they emerge, and • instead of being caught on the defensive, you will be more able to take the offensive – and be proactive.