Unit I - Swot - Pest Analysis 661z
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SWOT Analysis
SWOT Analysis
• SWOT is the analysis of a company’s Strengths, Weaknesses, Opportunities, and Threats. • Also called Internal-External Analysis and the SWOT Matrix is sometimes called an IE Matrix.
SWOT Analysis - STRENGTH
Strengths – What advantages does your idea have? – How does it serve the society better than anyone else? – How do you use unique or lowest-cost resources to your idea that others can’t? – What would be your strengths in the market ones this idea is materialized? – What factors mean that you “get the sale”? – What is your innovation’s Unique Selling Proposition (USP)? Consider your strengths from both an internal perspective, and from the point of view of your customers and people in your prospective market.
SWOT Analysis - Weaknesses
Weaknesses – What is the further scope of improvement? – What are the things that need to be avoided? – What are people in your market likely to see as weaknesses? – What factors lose you sales?
SWOT Analysis - Opportunities
Opportunities – What good opportunities can you spot in relation to the innovative idea you have? – What interesting trends are you aware of? Useful opportunities can come from such things as – Changes in technology and markets on both a broad and narrow scale. – Changes in government policy related to your field. – Changes in social patterns, population profiles, lifestyle changes, and so on. – Local events.
SWOT Analysis - Threats
Threats – What obstacles are likely to be faced? – What are your competitors doing? – Are quality standards or specifications for your job, products or serv – Is changing technology threatening your position? – Could any of your weaknesses seriously threaten your business?
PEST Analysis
PEST Analysis
• A PEST analysis is an analysis of the external macro-environment that affects all firms. • P.E.S.T. is an acronym for the Political, Economic, Social, and Technological factors of the external macro-environment. • Beyond the firm's control and sometimes present themselves as threats. • Changes in the external environment also create new opportunities. • Many macro-environmental factors are countryspecific and a PEST analysis will need to be performed for all countries of interest. • The following are examples of some of the factors that might be considered in a PEST analysis.
Political Analysis
• • • • • • • • • • • • • •
Political stability Risk of military invasion Legal framework for contract enforcement Intellectual property protection Trade regulations & tariffs Favored trading partners Anti-trust laws Pricing regulations Taxation - tax rates and incentives Wage legislation - minimum wage and overtime Work week Mandatory employee benefits Industrial safety regulations Product labeling requirements
Economic Analysis
• • • • • • • • • • • • • •
Type of economic system in countries of operation Government intervention in the free market Comparative advantages of host country Exchange rates & stability of host country currency Efficiency of financial markets Infrastructure quality Skill level of workforce Labor costs Business cycle stage (e.g. prosperity, recession, recovery) Economic growth rate Discretionary income Unemployment rate Inflation rate Interest rates
Social Analysis
• • • • • •
Demographics Class structure Education Culture (gender roles, etc.) Entrepreneurial spirit Attitudes (health, environmental consciousness, etc.) • Leisure interests
Technological Analysis
• • • • •
Recent technological developments Technology's impact on product offering Impact on cost structure Impact on value chain structure Rate of technological diffusion
Technological Analysis
• The number of macro-environmental factors is virtually unlimited. In practice, the firm must prioritize and monitor those factors that influence its industry. Even so, it may be difficult to forecast future trends with an acceptable level of accuracy. In this regard, the firm may turn to scenario planning techniques to deal with high levels of uncertainty in important macro-environmental variables.
SWOT Analysis
• SWOT is the analysis of a company’s Strengths, Weaknesses, Opportunities, and Threats. • Also called Internal-External Analysis and the SWOT Matrix is sometimes called an IE Matrix.
SWOT Analysis - STRENGTH
Strengths – What advantages does your idea have? – How does it serve the society better than anyone else? – How do you use unique or lowest-cost resources to your idea that others can’t? – What would be your strengths in the market ones this idea is materialized? – What factors mean that you “get the sale”? – What is your innovation’s Unique Selling Proposition (USP)? Consider your strengths from both an internal perspective, and from the point of view of your customers and people in your prospective market.
SWOT Analysis - Weaknesses
Weaknesses – What is the further scope of improvement? – What are the things that need to be avoided? – What are people in your market likely to see as weaknesses? – What factors lose you sales?
SWOT Analysis - Opportunities
Opportunities – What good opportunities can you spot in relation to the innovative idea you have? – What interesting trends are you aware of? Useful opportunities can come from such things as – Changes in technology and markets on both a broad and narrow scale. – Changes in government policy related to your field. – Changes in social patterns, population profiles, lifestyle changes, and so on. – Local events.
SWOT Analysis - Threats
Threats – What obstacles are likely to be faced? – What are your competitors doing? – Are quality standards or specifications for your job, products or serv – Is changing technology threatening your position? – Could any of your weaknesses seriously threaten your business?
PEST Analysis
PEST Analysis
• A PEST analysis is an analysis of the external macro-environment that affects all firms. • P.E.S.T. is an acronym for the Political, Economic, Social, and Technological factors of the external macro-environment. • Beyond the firm's control and sometimes present themselves as threats. • Changes in the external environment also create new opportunities. • Many macro-environmental factors are countryspecific and a PEST analysis will need to be performed for all countries of interest. • The following are examples of some of the factors that might be considered in a PEST analysis.
Political Analysis
• • • • • • • • • • • • • •
Political stability Risk of military invasion Legal framework for contract enforcement Intellectual property protection Trade regulations & tariffs Favored trading partners Anti-trust laws Pricing regulations Taxation - tax rates and incentives Wage legislation - minimum wage and overtime Work week Mandatory employee benefits Industrial safety regulations Product labeling requirements
Economic Analysis
• • • • • • • • • • • • • •
Type of economic system in countries of operation Government intervention in the free market Comparative advantages of host country Exchange rates & stability of host country currency Efficiency of financial markets Infrastructure quality Skill level of workforce Labor costs Business cycle stage (e.g. prosperity, recession, recovery) Economic growth rate Discretionary income Unemployment rate Inflation rate Interest rates
Social Analysis
• • • • • •
Demographics Class structure Education Culture (gender roles, etc.) Entrepreneurial spirit Attitudes (health, environmental consciousness, etc.) • Leisure interests
Technological Analysis
• • • • •
Recent technological developments Technology's impact on product offering Impact on cost structure Impact on value chain structure Rate of technological diffusion
Technological Analysis
• The number of macro-environmental factors is virtually unlimited. In practice, the firm must prioritize and monitor those factors that influence its industry. Even so, it may be difficult to forecast future trends with an acceptable level of accuracy. In this regard, the firm may turn to scenario planning techniques to deal with high levels of uncertainty in important macro-environmental variables.
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