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Swot and Pest Analysis

Autor:   •  November 5, 2015  •  Case Study  •  2,435 Words (10 Pages)  •  522 Views

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Universidade do Algarve

Escola Superior de Gastaō, Hoteleria e Turismo

Daiga Ancāne

a52279

SWOT and PEST analysis.

Essay

2014

Table of contents

Introduction        

1.        SWOT analysis.        

2.        Difference between internal and external factors.        

2.1.        Internal factors        

2.2.        External factors        

3.        Describe what is meant by PEST analysis.        

3.1.        PEST factors        

3.2.  Why is this tool so important in the organization management Process?        

3.        Which factors in each group (PEST) are more important for organizations in tourism industry in developing their strategic planning        

5. Contribution of SWOT analysis to a Radisson hotels business growth.        

Conclusion        

References        

Introduction

This is the second essay I am writing for the subject of Introduction to management. Essay is about SWOT and PEST analysis, and how both of these terms are significant for successful strategic planning.         

This topic is outstanding because todays organisations find themselves in an environment that is affected by globalisation process more than ever before. To be able to make startegical decisions companies have to investigaite the internal and external environment they are operating in because that could have an impact on companies operations. One of the most effective ways to do that is by doing SWOT and PEST analyses.

The objective of an essay is to explore the meaning of SWOT and PEST analysis, how they can be useful for business, how to use them and how are they are  linked together.

  1.  SWOT analysis.

SWOT analysis is a business analysiss tehnicque that company can use for each of its products, services and markets in order to find the best way of future developement. SWOT Analysis forms part of the strategic planning process or strategic review of a business. S.W.O.T. is an acronym that stands for strengths, weaknesses, opportunities and threats. The SWOT analysis is a summary of the external and internal environment analysis. It basicly conists of researcing the internal environment in light of identifying and understanding the internal strengths and weaknesses of a business. This is linked with a research of the external environment  that enables to identify and understand the opportunities and threats[1]. Furthermore, SWOT analysis is useful not only for identifying important problem areas in company but also enables to learn about the current situation and reflect on what can be done to improve the situation.

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