How to start the analysis of your institution's "market"? We propose to first understand the greater environment of your institution. This macro environment can pose opportunities or threats for your institution.

Therefore, before defining who your target group and major competitors are, you should spend some time systematically examining the factors beyond your direct control that will affect your business in the future.

What factors should your scan of the macro environment cover?

• Trends in the economy;
• Trends in technology (especially information technology);
• Political and legislative developments;
• Changes in society;