ABSTRACT
This chapter focuses on reviewing the External Impacts, the review process must be supported by a regular and communication system. The effect that External Impacts have on business was never more relevant than the outbreak of COVID-19. No business leader was able to change the social, political, and economic impact of the virus. Every company operates in a broad “macro-environment.” This macro-environment consists of five principal components: social impacts, technological impacts, environmental impacts, economic impacts, and political impacts. The External Impacts portion of the Strategy Whiteboard is like the opportunities and threats part of the SWOT Analysis. The External Impacts portion of the Strategy Whiteboard leverages the STEEP Model, which lays the groundwork for the company’s strategies. The External Impacts block of the Strategy Whiteboard should give the reader a preview of the company’s Strategic Focus. The Customer & Market Strategic Focus and the Product Strategic Focus are primarily influenced by Social Impacts from a customer perspective.
