Strategic management is a popular method for running businesses which involves an analytical approach to setting goals and managing resources. Like strategic planning, strategic management often involves a good dose of business analysis. Broadly speaking, this business analysis can be categorized as either internal or external. In this short guide, we'll walk you through the … [Read more...] about Internal and External Analysis in Strategic Management (SWOT and PESTLE)
PESTLE Analysis of the Food Industry
There's no denying that the food industry is one of the strongest in the world — after all, everyone needs to eat! Indeed, there are some interesting dynamics at play in this space, like rising labor costs, which make it unclear just how profitable food businesses will continue to be. In this PESTLE analysis, we'll look at the Political, Economic, Sociocultural, … [Read more...] about PESTLE Analysis of the Food Industry
SWOT Analysis of Costco Wholesale
Costco Wholesale differentiated itself in a crowded market by offering a membership-only model to its customers. With it, customers were able to buy bulk products at an attractive discount. Some of these products remain private and you can only find it (at an attractive price) at Costco warehouses. In this SWOT analysis, you’ll learn more about Costco’s advantages, issues, … [Read more...] about SWOT Analysis of Costco Wholesale
PESTLE Analysis of the Pharmaceutical Industry
The pharmaceutical industry has been around for millennia, but it's only within the last century that we've been able to understand and treat the majority of health ailments. While the pharmaceutical industry is extremely profitable for those involved, it's future outlook is mixed. Despite an aging population and growing obesity rates, the industry is held back by pricing … [Read more...] about PESTLE Analysis of the Pharmaceutical Industry
PESTLE Analysis of Greece
Greece has something of a reputation in the European Union, following its severe debt crisis in 2009. Although the country is still plagued by numerous Economic setbacks, it boasts a powerful tourism industry, great technological infrastructure, and very reasonable environmental policies. To get a better understanding of the circumstances Greece is facing, we've compiled this … [Read more...] about PESTLE Analysis of Greece
Should You Use SWOT Analysis in Your Marketing Plan?
Ever seen a marketing plan with SWOT analysis included? It may have confused you a bit. You may not see the importance of doing an entire analysis just for marketing. But here’s the thing: by not including SWOT analysis into your marketing plan, you’re setting yourself up for failure. The analysis helps you understand the crucial internal and external elements that will … [Read more...] about Should You Use SWOT Analysis in Your Marketing Plan?
PESTLE Analysis of the Tobacco Industry
Humans have consumed tobacco in various forms for thousands of years now, so you'd think the tobacco industry is here to stay. However, with growing awareness for the detrimental health effects of tobacco products, new substances and devices for smoking, and various other hurdles, the tobacco industry might be more fragile than we think. In this article, we'll dive deep into an … [Read more...] about PESTLE Analysis of the Tobacco Industry
Where Does PESTLE Analysis Fit Into Your Business Plan
If you don’t have a business plan, especially one with PESTLE analysis included, you’re going to want one after reading this. Here you’ll find the answers to what PESTLE analysis is and how it’s used in companies by business owners, marketers, and business analysts. Plus where PESTLE analysis information should be placed in your business plan (and if you don’t have one, where … [Read more...] about Where Does PESTLE Analysis Fit Into Your Business Plan
PESTLE Analysis of WeWork
WeWork is a global office space provider that mainly caters to freelancers and small startups. Its venues — known as "coworking spaces" — are a relatively novel concept, featuring a handful of individuals all working separately in the same shared space. The unique business model seems solid in principle, but where does WeWork really stand from a business analysis perspective? … [Read more...] about PESTLE Analysis of WeWork
How to identify and manage business risks
Every entrepreneur knows or at least should know, that the very act of starting a business means taking a risk. Even when you position yourself on a relatively stable market, have all your papers in order, and take the right precautions, your business can be affected by physical, technological, human or location risks. However, in addition to these main risk types that are part … [Read more...] about How to identify and manage business risks