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Different companies/industries have different external organizational considerations for the development of a strategic plan. This is because, companies fall under different categorize depending on specialty of their services and products.
External opportunities include things such as gaps in the market that no company is currently serving, new markets and other clear growth opportunities. External threats include new product releases from competitors and new competitors arising in the market.
A range of external factors can present either opportunities or threats, depending on the specifics. Changes in the law, for example, can provide distinct opportunities to some businesses in an industry while threatening the survival of others. Changing consumer preferences and market-changing new product categories, as another example, can give new entrepreneurs a world of opportunities while seriously threatening established brands.
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