Strategic Planning in the Small Business

Unit

2

HO 2-4 (continued)

Statistical Abstract

of the United States

General

summary of a number

of factors, issued annually.

Survey of Buying

Power (Sales and Marketing

Management Magczine)

Provides

more specifics relating

to the local area.

Chamber of Commerce

Often have

quite valuable information

and insights into local

situations.

Trade

Association Reports (Encyclopedia

of Associations) and

Trade Magazines

Most associations

prepare regular reports

that can be useful for

external

analysis.

General

Purpose Business Publications

Publications

such as Business 'eek

and bll Street Journal pro­

vide important

insights into general

environmental and industry

movements.

Magazines for

Small Business (e.g., Venture

Magazine, Inc., InBusiness)

These

are often useful as sources

for new ideas/approaches.

Helps one

keep abreast of new developments.

SUMMARY

Environmental analysis

must be an on-going

process. Just as a

firm's

environment is continually

in a state of flux and

evolu­

tion, the firm's analysis efforts

must be similarly dynamic.

When

times get tough and

the business is troubled,

many, small busi­

ness owners

turn their backs on environmental

analysis. They

argue that

they are confronted by

too many pressing pi oblems

to spend the time

and energy necessary

to deal with environ­

mental concerns.

Such reasoning is

dangerous and may serve

to exacerbate an already

difficult situation. How

can the busi­

ness make

the necessary decisions

to re-orient its business and

44 Part One The Analysis
Phase

187