Legal – Legislation which has been proposed and may come into effect and any passed legislations.Pest can also be known as PESTLE which includes other factors such as: Technological – Innovations, access to technology, licensing and patents, manufacturing, research funding, global communications.Social – The changes in lifestyle and buying trends, media, major events, ethics, advertising and publicity factors.Economic – Taxes, interest rates, inflation, the stock markets and consumer confidence all need to be taken into account.Political – Laws, global issues, legislation and regulations which may have an effect on your business either immediately or in the future.PEST stands for the analysis of the external factors which are beneficial when conducting research before beginning a new project or to help conduct market research. Brainstorming is a great way of introducing all the relevant internal and external factors for each section of the analysis. It is a good idea and excellent practice to work through the SWOT Analysis with your team in the early stages of project planning. One of many SWOT analysis templates available at Creately ( click to use at template ) Using the Informationīy knowing this information it can be possible to plan a successful project that is ready to work around certain problems effectively and to avoid failure. Or you can use our SWOT analysis templates to get started instantly.Ĭlick here for more SWOT analysis templates by Creately > You can easily create SWOT diagrams using our diagramming tool. In addition to evaluating the state internally, this method is also able to identify the external factors which could also make a difference to the success or failure of a project. By working through each of these points it is possible to identify any internal disadvantages or advantages which could benefit or hinder the outcome of a planned project. Sometimes SWOT is referred to as SLOT, where weaknesses are names as liabilities. Threats – External movements which may cause a problem and have a negative impact on your business.Opportunities – Current external trends which are waiting to be taken advantage of.Weaknesses – The disadvantages you have internally compared with your competitors.Strengths – The advantages you have over the competition concerning this project.SWOT, when broken down simply means analyzing the: Below is a brief introduction to both methods and a comparison of SWOT analysis and PEST analysis. SWOT analysis and PEST analysis are two of the most frequently used planning methods.
There are some excellent strategic planning methods that you can use analyze all these factors. When planning a project it is important to learn about the internal and external factors that can affect the project.
0 kommentar(er)
