Considerations which senior managers may have in formulating strategic plans: - Product/service life cycle - Changing customer tastes and requirements - Expansion of business into other countries/Globalisation - Political issues - Competition - Technological developments - Legislation Also [[PESTLE]] ## Stuff to add it doesn’t help when athletes imagine themselves as winners of a race, but it makes a big difference if they imagine all the training that is necessary to be able to win. Having a more realistic idea in mind not only helps them to perform better, it also boosts their motivation (Singer et al. 2001). ([Location 2605](https://readwise.io/to_kindle?action=open&asin=B06WVYW33Y&location=2605))