Ever wonder why some companies seem to have a right to win and others fail? Strategy coherence of the internal and external landscape. Understanding the analyses: business, environmental, market and research is critical to any business or self.

SWOT Analysis is an acronym for Strengths, Weaknesses, Opportunities and Threats. When one has a plan for any kind of venture…such as a new business etc., the SWOT analysis helps in evaluating what the strengths, weaknesses, opportunities and threats are of the business venture.SWOT is a useful technique for understanding your Strengths and Weaknesses, and for identifying both the Opportunities open to you and the Threats you face.

What makes SWOT particularly powerful is that, with a little thought, it can help you uncover opportunities that you are well-placed to exploit. And by understanding the weaknesses of your business, you can manage and eliminate threats that would otherwise catch you unawares.

More than this, by looking at yourself and/or your company’s competitors using the SWOT framework, you can start to craft a strategy that helps you distinguish yourself from your competitors, so that you can compete successfully in your market.

PEST / PESTEL Analysis PEST (political, economic, social and technological) is an analysis that describes a framework of macro-environmental factors that may be beyond the company’s control which may present opportunities or threats.

The PEST analysis is a useful business measurement tool for understanding market growth or decline, and as such the position, potential and direction for a business.It is part of an external analysis for environmental scanning when conducting a strategic analysis or doing market research and gives an overview of the different macro-environmental factors to be taken into consideration.
PESTEL which adds legal and environmental factors is more popular in Europe.