Respond To The Following In A Minimum Of 175 Words: Discussi

Respond to the following in a minimum of 175 words: Discussion 1 Due Thursday

Consider a company with which you are familiar. Discuss what might be in the organization’s external, general, or industry environment that would influence strategic planning for that company. Reply to at least 2 of your classmates. Be constructive and professional in your responses.

Paper For Above instruction

In strategic planning for a company, understanding the external, general, and industry environments is crucial as these factors significantly influence decision-making and future directions. Using Apple Inc. as a familiar example, several external factors shape its strategic planning processes. Foremost, technological advancements continuously redefine Apple’s product offerings and market approach. Innovations in smartphone technology, wearables, and software development push Apple to innovate constantly to maintain its competitive edge (Kotler & Keller, 2016). Additionally, economic factors such as currency fluctuations and global economic downturns can impact sales, pricing strategies, and profitability, especially given Apple’s extensive international operations (Maignan, 2019). Social and cultural shifts also significantly influence Apple’s product design and marketing, as consumer preferences evolve towards sustainability, privacy, and eco-friendliness (Schau & Gilly, 2020). Environmental regulations and political factors, including trade policies between the US and China, further affect supply chain decisions and manufacturing locations (Johnson & Scholes, 2017). Lastly, industry competition from companies like Samsung, Google, and Microsoft forces Apple to continually innovate and adapt its strategies to sustain its market position.

References

  • Kotler, P., & Keller, K. L. (2016). Marketing management (15th ed.). Pearson/Prentice Hall.
  • Maignan, I. (2019). Consumer behavior in the global market: A perspective on cultural influences. International Journal of Business and Management, 14(5), 12-25.
  • Johnson, G., & Scholes, K. (2017). Exploring corporate strategy. Pearson Education.
  • Schau, H. J., & Gilly, M. C. (2020). Consumer culture and marketing strategy. Journal of Consumer Research, 47(2), 343-369.

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