As December appears on the horizon (we can hardly believe it either) now is the time to start thinking about 2019 and what you want to achieve. As we discussed in our last blog there are some big changes on the horizon thanks to Brexit and we will start to see these changes come to life in 2019 so it’s even more important this year to think about what you might need to put in place. Many companies leave such planning to January but given it can take a week to get back to work after the Christmas break this can mean a delayed start. The best time is now so you can hit the ground running once you have slept off the turkey!
This week we will share some tools which we actively use with leadership teams (among others) to help them think about what they need to consider and think about what the competition are doing. Today we will focus on what is known as an Environmental Scan, that is looking ahead to see what is going on around us, often we get caught up in the day to day of business and forget to do this which can mean we find ourselves having to react to change rather than managing it.
PESTLE is an oldie but goodie. This acronym is a great way of considering a number of topics and how they might impact you allowing you to then put in place actions to be in control.
POLITICAL – this one is undoubtedly the main one for 2019. How does the political landscape impact your business? What changes might be on the horizon and how will they impact you? (Brexit is undoubtedly one of the biggest changes in this category) .
ENVIRONMENTAL – What environmental changes are coming? How will the landscape change around you? What is your impact on the environment and could you change this? Hot topics here are things like single-use plastic (perhaps you send products out in plastic packaging, could this be changed?).
SOCIAL – What impact do you have on your local community? What talent will you need for the future?
TECHNOLOGICAL – What new technology is out there that you need to be aware of? How well do you embrace social media and is that important for your business?
LEGAL – What legal changes are coming? How will BREXIT impact on laws? What specific legal changes are likely in your sector?
ECONOMIC – What will the economy look like? Is your product considered a necessity or a luxury and will people be able to afford it? How might exchange rates be impacted and how can you minimise the impact of fluctuations? If you rely on funding that is European in its source what impact might BREXIT have on this?
We can support you with planning for 2019 and facilitate leadership and team-based events.