Principles, Tools, and Techniques in Evaluating a Business Flashcards
created in the 1960s by business gurus, Edmund P. Learned, C. Roland Christensen, Kenneth Andrews, and William D. Book in their book, Business Policy, Text and Cases (Irwin, 1969).
The SWOT Analysis
stands for Strengths, Weaknesses, Opportunities, and Threats
SWOT Analysis
an analytical framework that can help a company meet its challenges and identify new markets
SWOT Analysis
framework can help identify the business’s risks and rewards
SWOT Analysis
a means of identifying the internal and external forces that may affect the business. It is very helpful in assessing new ventures.
SWOT Analysis
What does S stand for in SWOT Analysis
Strengths
What does W stand for in SWOT Analysis
Weaknesses
What does O stand for in SWOT Analysis
Opportunities
What does T stand for in SWOT Analysis
Threats
an acronym for political, economic, social, and technological external factors that commonly affect business activities and performance
PEST Analysis
can work alone or be used in combination with other tools, such as Porter’s Five Forces and SWOT Analysis to determine an organization’s overall outlook.
PEST Analysis
What does P mean on PEST Analysis
Political factor
What does E mean on PEST Analysis
Economic factor
What does S mean on PEST Analysis
Social factor
What does T mean on PEST Analysis
Technological - external factor
