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Questions and Answers
What is a SWOT analysis used for?
A SWOT analysis is used to evaluate the strengths, weaknesses, opportunities, and threats of a company or organization.
Which companies are typically covered in the library databases for SWOT analyses?
Generally, only large, publicly traded companies are covered in the library databases for SWOT analyses.
What should you do if you cannot find a ready-made SWOT for your company?
If you cannot find a ready-made SWOT for your company, you can use a combination of resources and information about your company, competitors, and industry to conduct your own SWOT analysis.
What are some factors analyzed in a PESTEL analysis?
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What is a PESTEL analysis?
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Study Notes
SWOT Analysis
- SWOT stands for Strengths, Weaknesses, Opportunities, and Threats, used to evaluate a company’s position.
- Available SWOT analyses primarily cover large, publicly traded companies in library databases.
- If a specific SWOT analysis is unavailable, compile relevant information about the company, its competitors, and industry to create a custom analysis.
- Identify peer companies with similar products or operating in the same market to gain insights.
- Critical reading and inference skills are essential to evaluate the company's situation effectively.
PESTLE Analysis
- PESTLE is a strategic analysis framework that assesses external macro-environmental factors affecting organizations.
- PESTLE stands for Political, Economic, Social, Technological, Legal, and Environmental factors.
- This analysis helps marketers understand external influences that can impact business operations and strategic planning.
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Description
Test your knowledge on SWOT and PESTLE analyses in the context of business and management. Learn how to conduct these analyses and understand their importance in evaluating companies.
