Executives can use various tools to adapt their strategies to changing industry circumstances. These include SWOT analysis, PESTEL analysis, Porter's Five Forces, and the Balanced Scorecard. These tools help in understanding the internal and external environment, competitive forces, and aligning business activities to the vision and strategy of the organization, improving internal and external communications, and monitoring organization performance against strategic goals.
Follow up to the first part of our Business Strategies and Frameworks compilation, part 2 offers you...
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