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)
internal analysis
Why You Should Do An Internal Analysis at Least Once
An internal analysis uses data collected from specific departments within a company to create more significant results. The typical units used in the analysis include: Marketing Finances Operations But “internal analysis” on its own is ambiguous. Most often, when people conduct internal analysis, they use SWOT analysis. Using the four criteria of SWOT analysis … [Read more...] about Why You Should Do An Internal Analysis at Least Once
4 Critical Features of Internal Analysis
An internal analysis highlights three factors: an organization’s competency, resources, and competitive advantage. Specifically, the study examines strengths and weaknesses, helping firms make smart decisions that promise business sustainability and profits. 1. Resources are necessary...but not all An internal analysis highlights several areas of interest to understand and … [Read more...] about 4 Critical Features of Internal Analysis
What is VRIO Analysis: How to Do it Correctly
VRIO analysis is a tool in strategic planning, used by firms to make efficient business decisions. The analysis provides information and the results will hopefully provide a competitive advantage. What is VRIO analysis? VRIO is an internal analysis. It’s used to identify and evaluate resources in a company. Specifically answering the question, what competitive advantages … [Read more...] about What is VRIO Analysis: How to Do it Correctly