Consider the example of Salemi Industries and the launch of its product, Cell Zone, in 2005. Although it tried to carefully analyze its potential market, it misread the market demand for the product and paid a steep price for its mistake. This is an example of internal forecasting.

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Analyzing the external environment is a critical step in recognizing and understanding the opportunities and threats that organizations face. Here is where some companies fail to do a good job. The key error of Salemi Industries was that it failed to take into consideration an emerging technology and how that would affect the sales of its product.

Consider the Example of Salemi Industries and the Launch of Its