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In business analysis, PEST analysis (political, economic, social and technological) is a framework of external macro-environmental factors used in strategic management and market research. PEST analysis was developed in 1967 by Francis Aguilar as an environmental scanning framework for businesses to understand the external conditions and ...
One instrument to analyse the company's external environment is the PEST analysis. PEST stands for political, economical, social and technological factors. Two more factors, the legal and environmental factor, are defined within the PESTLE analysis. [5] To explain these environmental factors, it is necessary to say that most of the factors ...
Current research shows that the analysis of the market environment has challenges to predict or foresee upcoming market changes. The reason is that market scanning frameworks often suggest to observe a broad range of categories without offering detailed guidelines for what aspects to emphasize or ignore. [24]
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The business model canvas is a strategic management template that is used for developing new business models and documenting existing ones. [2] [3] It offers a visual chart with elements describing a firm's or product's value proposition, [4] infrastructure, customers, and finances, [1] assisting businesses to align their activities by illustrating potential trade-offs.
A mortar and pestle is a set of two simple tools used to prepare ingredients or substances by crushing and grinding them into a fine paste or powder in the kitchen, laboratory, and pharmacy. The mortar ( / ˈ m ɔːr t ər / ) is characteristically a bowl, typically made of hardwood, metal, ceramic , or hard stone such as granite .
SWOT analysis evaluates the strategic position of organizations and is often used in the preliminary stages of decision-making processes [2] to identify internal and external factors that are favorable and unfavorable to achieving goals. Users of a SWOT analysis ask questions to generate answers for each category and identify competitive ...
Several tools have been developed one can use in order to analyze the resources and capabilities of a company. These include SWOT, value chain analysis, cash flow analysis and more. Benchmarking with relevant peers is a tool to assess the relative strengths of the resources and capabilities of the company compared to its competitors.