der 25 age group. As a proportion of the total population, this age group is already declining in the late 1980s. At some point in the 1990s, their absolute numbers are projected to begin a decline. Thus, the industry is faced with a shrinking market for its products, unless it developed products which appeal to the 25 50 age group, or unless it develops ways of causing its existing products to appeal to this age group.
The entire strategic process within an organization, is a set of highly interrelated components. These components function within a dynamic environment. Strategic planning is primarily concerned with the external environment. It is, thus, necessary for the strategic planner to (1) know and understand the components of the organization's external environment, and (2) understand how the external environment affects its strategic planning process.
A firm's external environment is composed of a complex and diverse array of factors. These factors are mo
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