The Effectiveness of SWOT, PEST and Five Forces Analysis to Improve Business Strategy
The Effectiveness of SWOT, PEST and Five Forces Analysis to Improve Business Strategy
Businesses use a variety of measures to consider their effectiveness in and relationship to the market. These provide an avenue for determining what is working, what needs improved on, and what threatens a business’s longevity from both inside and outside forces (Hass et al., 2008). Three of the most commonly used approaches are the SWOT analysis, the PESTLE analysis, and consideration of Porter’s Five Forces. Each if these models focuses on a different element, or set of elements which are considered crucial to the ...