PESTLE analysis is a wide-reaching business analysis tool that looks at Political, Economic, Sociocultural, Technological, Legal, and Environmental forces in the surrounding business environment. It can be an especially useful tool in the context of risk management, where it helps business analysts in identifying potential risks. In this article, we'll look at what you need to … [Read more...] about 3 Tools to Include in Risk Management Framework for Best Results
five forces analysis
How Analysis Gives You a Competitive Advantage in Business
A competitive advantage doesn’t need to be huge to have an effect. It doesn’t have to be mind blowing or ridiculously obvious. It only has to be useable by you. Giving discounts on products — when your competitor ignores Black Friday — is a competitive advantage. Targeting niche audiences is a competitive advantage. Treating repeat customers with VIP discounts is a … [Read more...] about How Analysis Gives You a Competitive Advantage in Business
Five Forces Analysis of the Fashion Retail Industry
Porter’s Five Forces analysis is an approach to determining just how competitive a given market is, and consequently, how profitable it may be for a business. This framework draws on five factors, known as the ‘five forces’, to achieve this. These five forces are: buyer power -- the ability of buyers to decrease the prices they paysupplier power -- the ability of suppliers … [Read more...] about Five Forces Analysis of the Fashion Retail Industry
Porter’s Five Forces Analysis
For both small and big businesses, managing business effectively is difficult. One of the most essentials skills needed is the ability to assess the competitive environment. Entrepreneur and managers must comprehend the competitive environment of the business. There are several ways to analyze the market and business environment. SWOT analysis is the most commonly used tool. … [Read more...] about Porter’s Five Forces Analysis