I put external environment analysis to the last place, even though it is a start point in many books. I believe that business success depends on a company leadership's ability to identify customers' needs and create values much more than on their analytical skills. Of course, every firm needs to compete and to obey local regulations, but the best businesses try to change the reality rather than adapt to it. But scanning the external environment can bring some fresh ideas.
Peter and his team carried out this work using the PESTLE and competitive analysis frameworks and found out that the company's UVP, unique value proposition, was not unique anymore. Some of their ideas were successfully copied by competitors. But the excellent job Peter did at step #1 helped them find some new solutions. Conclusion
Those five steps are only the beginning. A lot of work needs to be done to implement all the ideas collected during them. In some cases, there are additional problems to be treated. But I recommend always starting with them.
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by Svyatoslav Biryulin "KPIs that will kill your business".