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2- SWOT Analysis P.E.S.T.L.E. :

Analysis scenario anticipation Porter's Five Forces framework purpose: Business analysis models are beneficial tools and techniques that can help you understood your organizational environment and think more strategically about your line of work. Dozens of generic techniques are accessible, but some come to the vanguard more regularly than others do. These include: SWOT analysis is one of the most favored strategic analysis models. It involves looking at the strengths, and weaknesses of your business' capacity, and any opportunities and threats to your business.

Once you identify these, you can assess how to: capitalize on your strengths minimize the effects of your weaknesses make the most of any opportunities reduce the impact of any threats See our SWOT analysis example. A SWOT analysis gives you a better recognition of your internal and external business environment. However, it does not always prioritize the results, which can lead to an improper strategic action. One way to make better use of the SWOT framework is to think about the customer's perspective when making strategic plans and decisions. You can do this by applying importance-performance analysis (IPA) to identify SWOT based on customer appeasement surveys.

Other strategic analysis tools In addition to SWOT, other functional techniques include: PESTLE analysis a technique for understanding the diverse external influences on a business. See our PESTLE analysis example. Scenario planning a technique that builds diverse plausible views of feasible futures for a business. Critical success factor analysis a technique to recognize the areas in which a business must succeed to achieve its objectives.

The Five Forces a framework for looking at the strength of five important factors that affect the competition potential entrants, existing competitors, buyers, suppliers, and alternate products/services. Using this model, you can create a strategy to keep ahead of these influences. Generating a strategic plan is a key part of planning for extension. A strategic plan helps prepare a realistic vision for the future of your business and maximizer your potential for successful business growth. You should not baffle strategic planning with business planning.

A business plan is about setting short or mid-term goals and defining the steps to attain them. A strategic plan is focused on mid to long-term goals and explains the fundamental strategies for achieving them. This guide explains strategic planning. It tells you how to develop a strategic plan and what key elements you should contemplate in your business, ' strategy. It also out boundary the main steps in the strategic planning process, and the common planning models you can use, such as PESTLE analysis and SWOT analysis