SWOT ANALYSIS

A SWOT analysis is commonly used in marketing and business in general as a method of identifying opposition for a new strategy. this analysis allows the company to identify all off the positive and negative elements that influencing factors inside and outside of a company. the key role of SWOT is to help develop a full awareness of all factors that may affect strategic planning and decision making, a goal that can be applied to most any aspect of industry.

SWOT ANALYSIS

Strengths: characteristics of the business or project that give it an advantage over others

Weaknesses: are characteristics that place the team at a disadvantage relative to others

Opportunities: elements that the project could exploit to its advantage

Threats: elements in the environment that could cause trouble for the business or project

EVALUATING A COMPANY'S EXTERNAL ENVIRONMENT

hii u guys,

did u know, what are the strategically relevant factors in the macro-environment?

macro-environment comprises of six components; political factor, economic conditions, sociocultural forces, technological factors, environmental factors, and legal or regulatory conditions. all of this principal are known as PESTEL analysis. 

Six principal component of strategic management significance it the macro environment.

P	Political factor	This can include – government policy, political stability or instability in overseas markets, foreign trade policy, tax policy, labour law, environmental law, trade restrictions and so on.
E	Economic conditions	Factors include – economic growth, interest rates, exchange rates, inflation, disposable income of consumers and businesses and so on.
S	Sociocultural forces	These factors include – population growth, age distribution, health consciousness, career attitudes and so on.
T	Technological factors	Affect marketing and the management thereof in three distinct ways: ·         New ways of producing goods and services ·         New ways of distributing goods and services ·         New ways of communicating with target markets
E	Environmental factors	They have become important due to the increasing scarcity of raw materials, polution targets, doing business as an ethical and sustainable company, carbon footprint targets set by governments (this is a good example were one factor could be classes as political and environmental at the same time).
L	Legal or regulatory condition	Legal factors include - health and safety, equal opportunities, advertising standards, consumer rights and laws, product labelling and product safety.