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External factors

What should I watch?

Here are some examples of external factors that may be relevant to you. These are only suggestions to get the thinking activity started. The most important thing is that you have your company in mind and think freely!

Suppliers and partners

It is just as important to have control over the company’s suppliers and partners as over the competitors.

Is your best supplier, for example, being acquired or expanded? It is good to know that you are prepared.

Policies, laws and regulations

This piece of cake is closely related to the authority part. What issues are our politicians dealing with right now and could it have consequences for the company?

Competitors and substitutes

Keep an eye on your competitors so that you know what they are up to and what their position in the market looks like compared to your own company. Also keep an eye on substitutes for your product or service. These are your next competitors.

Technology and Research & Development

Keep an eye on new technological advances in your own industry or in general so that you are prepared for the new.

Authorities, laws and regulations

Monitoring authorities is good for catching up early on any legal changes within your industry or those of suppliers.

What should I watch?

Here are some examples of external factors that may be relevant to you. These are only suggestions to get the thinking activity started. The most important thing is that you have your company in mind and think freely!

Suppliers and partners

It is just as important to have control over the company’s suppliers and partners as over the competitors.

Is your best supplier, for example, being acquired or expanded? It is good to know that you are prepared.

Policies, laws and regulations

This piece of cake is closely related to the authority part. What issues are our politicians dealing with right now and could it have consequences for the company?

Competitors and substitutes

Keep an eye on your competitors so that you know what they are up to and what their position in the market looks like compared to your own company. Also keep an eye on substitutes for your product or service. These are your next competitors.

Technology and Research & Development

Keep an eye on new technological advances in your own industry or in general so that you are prepared for the new.

Authorities, laws and regulations

Monitoring authorities is good for catching up early on any legal changes within your industry or those of suppliers.

Economy

Follow the stock market and economic figures, which may be
influence the purchasing power of your industry.

Trends and public opinion

Are there any major currents moving in people in general right now? How do we generally approach different issues? Will this affect our company?

Own company

It can be useful to keep a watchful eye on how your own company is portrayed in the media. How often is the company mentioned and what do they write about. There are several subcategories in your own company. You can monitor your own brand, products, any subsidiaries, promotions, the owners or, for example, the management.

Customers, existing and potential

Of course, it is very important to also have an overview of the customers. How do they act? What do they say about our company etcetera?

Fun and more

In the diet circle, there is no piece of cake for just cake and sweets. It can be discussed whether it should be allowed or not. We believe that there may be a piece in our diet circle that processes small sweets for the company. Why not guard an area that is for fun only. Even areas that may seem far from what the company normally deals with can bring valuable information and
inspiration.

Thoughts on the travel industry

To further clarify what we mean by the diet circle’s external factors, we intend to take an example here of how a company can use the various factors in its monitoring. It is a fictional company in the travel industry that we call Flyg och Far.

Suppliers and partners

To monitor their suppliers and partners, Flyg och Far has set up a SiteAgent se (see more in later chapters) that monitors the suppliers ‘and partners’ websites. There they can read what the actors write. By also monitoring what is written about them in the media, they stay up to date on what is happening.

Policies, laws and regulations

What do politicians say about the travel industry? Are there new bills underway in the travel industry? Are new proposals for regulations on the import and export of animals and goods underway?

How do industry unions act? Flyg och Far has surveillance on the websites of authorities and trade unions to see what is going on.

Competitors and substitutes

What kind of travel does Flyg och Fars offer to competitors? There are many ways to travel, what do other travel companies offer? What does the media write about Flyg och Fars competitors? And what do the competitors themselves write on their websites?

Technology and Research & Development

What new innovations are under development in the travel industry? What do the new airline seats of the future look like? Are there any innovations in any other industry that could be a threat to the travel industry? What does it say in the research magazines and design magazines right now?

Put a MediaAgent ™ on the subject.

Authorities, laws and regulations

Coverage of the same as under policies, laws and regulations.

Economy

How are the travel industry and society financially? Do people have a lot or a little money in their wallet? Is there a chance that the aviation industry will receive the money or should the industry prepare for a reduction?

Trends and public opinion

What do the trend magazines say about where to travel? Where are the Hollywood stars going? How do the public react to the travel industry and the fierce price war that is going on? By monitoring travel communities and chatting for travel-loving people with the help of SiteAgent sign signals can be picked up early.

Own company

Through media monitoring with MediaAgent Flyg Flyg and Far can have control over what is written about them in the media.

Customers, existing and potential

If Flyg och Far’s customers say something in the media, this is intercepted
fast up with help of a MediaAgent ™.

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