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SWOT Analysis and PEST Analysis Overview

Online Course

Lesson 4 Paths

Date/Time: Video available
Price: Free
Website: http://www.lessonpaths.com/learn/i/swot-analysis/swot-and-pest-analysis-overview
Description: A scan of business internal and external environments is an important part of the strategic planning process. Environmental factors internal to the firm usually can be classified as strengths (S) or weaknesses (W), and those external to the firm can be classified as opportunities (O) or threats (T). Such analysis of strategic environments is referred to as a SWOT analysis.

The SWOT analysis provides a strategic information that is helpful in matching the firm's resources and capabilities to the competitive environment in which it operates. We should aim to turn our weaknesses into strengths, and our threats into opportunities.

SWOT analysis will give managers options to match internal strengths with external opportunities. The outcome should be an increase in 'value' for customers, which hopefully will improve the competitive advantage.
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