(This is what I have)

SWOT analysis

As previously mentioned, the SWOT analysis helps to interpret the results of the PESTLE analysis to determine the company's strengths, weaknesses, opportunities, and threats. Prior to completing your business plan, you must conduct a SWOT analysis as part of your internal focus. It is an integral part of the process of risk management.

Understanding SWOT analysis is facilitated by classifying strengths and weaknesses as an internal assessment of a business, thus focusing on internal, controllable factors. The opportunities and threats are therefore categorised as an external assessment of the business, as they examine external forces and influences beyond the company's control.

Opportunities

What opportunities can you identify?

What noteworthy tendencies are you aware of?

Opportunities can arise from such sources as:

Changes on both large and small scales in technology and markets. Changes in government policies that affect your industry.

Changes in social patterns, population profiles, and way of life, etc.Local events.

Threats

What obstacles do you face?

What actions do your competitors take?

Changing quality standards, compliance requirements, or product or service specifications.

Changes in technology pose a threat to your position.

Do you have delinquent debts or cash flow issues?

Could any of your weaknesses pose a significant threat to your enterprise?

Consider some of the following factors when conducting a SWOT analysis.

The SWOT analysis image provides an illustration of the issues.

Directions In this lecture, we finished the second part of SWOT - opportunities, threats, and identifiable factors that affect the external environment. Knowing how to identify and overcome threats and take advantage of opportunities all affect the "bottom line" of an organization's profit margin. Using SWOT and PESTLE are two great models to help identify internal and extemal environments for a business to use in preparing for its strategic plan. From your leaming and in at least 150 of your own words, answer the following: - Describe the PESTEL framework and how it's used to evaluate the extemal environment. - Explain how you can apply two parts of the SWOT - Opportunities and Threats to your career pursuits