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Once Able has identified internal issues, the company must begin to look to external issues to be able to form an identity through a mission statement, implement a value proposition and set strategic operations. In order to do this, the company can look at economic indices to help with forecasting.
"There are four direct general economic indices that are used to forecast the sales of the PEPT (Portable Electric Power Tools) Industry in which Able Corporation operates. These are housing starts, expenditures for residential construction, expenditures for commercial construction, and expenditures for home repairs and improvement." (Task List, n.d.) These indices are in direct correlation of each other; if interest rates are high then residential construction expenditures are low and home repairs and expenditures are high as homeowners repair their current house rather than buy a new one. Examining the external environment can give Able an idea of how to operate and forecast......

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Approximate Pages: 4 (250 words per double-spaced page)

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