Unit 1: Research Tasks Task 1: Business analysis tools SWOT and PEST(EL) SWOT – Strengths, Weaknesses, Opportunities and Threats Strengths and weaknesses are within your company, things that you have some control over and can change. Examples include who is on your team, your patents and intellectual property and your location. Opportunities and threats are external things that are going on outside your company, in the larger market. You can take advantage of opportunities and protect against threats, but you can’t change them. Examples include competitors’ prices of raw materials and customer shopping trends. A SWOT analysis organises your top strengths, weaknesses, opportunities and threats into an organised list and is usually presented in a simple two by two grid. (https://www.liveplan.com/blog/what-is-a-swot-analysis-and-how-to-do-it-right-with-examples/) PEST(EL) – Political, Economic, Social, Technological, Legal and Environmental Factors Political Factors - These determine th...
Comments
Post a Comment