What it’s all about

The ability to think strategically enables managers to realistically anticipate future situations and make well-founded decisions in order to achieve long-term goals. Situational awareness plays a decisive role as the first step in this process. A thorough situation analysis minimises risks, identifies opportunities and threats, prioritises goals, increases adaptability and improves clarity and communication. Decision-makers have a range of tools at their disposal to carry this out. These include SWOT analysis, PESTEL analysis, Porter’s five forces model, scenario analysis, value chain analysis, benchmarking, the balanced scorecard, stakeholder analysis and resource and capability analysis.

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