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What is SWOT analysis?

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  SWOT analysis is a framework for identifying and analyzing an organization's strengths, weaknesses, opportunities and threats.                   Further description of SWOT analysis: Strength: Strengths are things that your organization does particularly well, or in a way that distinguishes you from your competitors. Think about the advantages your organization has over other organizations. These might be the motivation of your staff, access to certain materials, or a strong set of manufacturing processes. Weakness:  Weaknesses, like strengths, are inherent features of your organization, so focus on your people, resources, systems, and procedures. Think about what you could improve, and the sorts of practices you should avoid.   Opportunities:  Opportunities are openings or chances for something positive to happen, but you'll need to claim them for yourself .  They usually arise from situations outside your organi...

What is PESTLE analysis?

  A PESTLE analysis studies the key external factors ( Political, Economic, Sociological, Technological, Legal and Environmental ) that influence an organisation. It can be used in a range of different scenarios, and can guide people professionals and senior managers in strategic decision-making.   PESTEL reflects the names of the six segments of the general environment: Political:   Political factors include government policies, leadership, and change; foreign trade policies; internal political issues and trends; tax policy; regulation and de-regulation trends.           2. Economic:   Economic factors include current and projected economic growth; inflation and interest rates; job growth and unemployment; labor costs; impact of globalization; disposable income of consumers and businesses; likely changes in the economic environment.     3. Social:   Social factors include demographics (age, gender, race, family s...

What are the Types of Business Strategy?

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Organizational (Corporate) Strategy. Functional Strategy. Business (Competitive) Strategy. Operating Strategy. 1. Organizational (Corporate) Strategy: Corporate strategy is a unique plan or framework that is long-term in nature, designed with an objective to gain a competitive advantage over other market participants while delivering both on customer/client and stakeholder promises (i.e. shareholder value). A corporate strategy refers to a companywide strategy aligned with the company’s vision and objectives, aiming to create value and increase profit. It considers an organ 2.  Functional Strategy: A functional strategy is the approach a business functional takes to achieve corporate and business unit objectives and strategies by maximizing resource productivity. It deals with a relatively restricted plan that provides the objectives for a specific business function. A functional strategy, also known as a “departmental strategy”, concerns each organizational function, and how that ...