We discuss analyses plenty here — it’s in the website name, of course! We highlight many different types on a weekly basis. But what exactly is ‘analysis’? It starts with the definition. If you do a Google search akin to “define analysis”, you’ll most likely come across something like this: Analysis; detailed examination of the elements or structure of something, typically … [Read more...] about How to Define Analysis
Strategic planning is the managerial process of deciding on a clear goal (or set of goals) and the means by which to achieve it -- in other words: deciding on a strategy. A good strategic plan allows companies to set their priorities, effectively use any available resources, and eventually achieve their desired goals with good success. There are many different ways to actually … [Read more...] about What Is Strategic Planning?
Numerous factors determine and affect the environment of an organization, which should be identified, understood and analyzed by the company so it can achieve optimum performance. PEST analysis categorizes these factors affecting the organization under four headings, namely: Political Economic Social Technological If you want to know what is PEST analysis and … [Read more...] about What Is PEST Analysis and Why it’s Useful
SWOT analysis is an analytical tool used for the identification and categorization of internal and external factors. Strengths and weaknesses in SWOT analysis are termed as internal factors while opportunities and threats are termed as external factors. SWOT analysis can be conducted for a situation, an organization, a project, a new venture, a country, a nation and even … [Read more...] about The SWOT Analysis Definition your Organization Needs
Aside from the company’s internal resources and industry factors, there are several other macro-economic factors that can have a profound impact on the performance of a company. In particular situations such as new ventures or product launch ideas, these factors need to be carefully analyzed in order to determine how big their role in the organization’s success would be. One of … [Read more...] about Understanding Pest Analysis with Definitions and Examples
What is SWOT analysis? SWOT analysis is a situational analysis carried out for different purposes, usually but not necessarily by businesses. This analysis is used to assess four different factors related to any situation: Strengths Weaknesses Opportunities Threats All these factors can be about a situation, an organization or an individual’s career; there … [Read more...] about What is SWOT Analysis – A Simplified Definition