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Business, Economics, MBA

A quick internal and external analysis of the firm, including SWOTing and PESTs!

The following simple breakdown of basic business analytic tools is vital for all business managers and decision makers. Looking at, evaluating and making decisions decisions based on external and internal factors to the firm is vitally important to ensure adequate and efficient production.

External Factors

These are factors that are not in control of the company, but they must be observed nonetheless so that the best course of action can be chosen. In this instance, to analyse the external environmental factors that will affect a firm a simple PEST Analysis should be done.

  • Political (legal)
  • Economic
  • Social
  • Technical

Looking into each of these in turn will give the business managers a good insight into what is going on outside of their control, and how they should prepare/adapt.

Internal Factors

There are obviously internal factors that are crucial to the firm, and are more manageable for the firm’s managers. In this, a combined internal and external examination is required of the firm’s performance through a SWOT Analysis.

  • Strengths
  • Weaknesses
  • Opportunities
  • Threats

This form of analysis can be useful for many reasons, as it enable the company to:

  1. identify where it is doing well and where it will likely do well in the future.
  2. helps identify problems.
  3. helps focus management on strategic problems.
  4. provides an opportunity to identify organisational strengths and weaknesses.
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About loganjehall

I focus on building an internal culture focussed on listening to and working alongside customers to build value for all stakeholders. Real lasting change that understands the real needs of the customer is the only way to ensure a dynamic constant state of learning and innovation. I am a highly experienced sales, marketing and business professional with wide ranging experience in varied industries. Having worked in both B2B and B2C I understand sales and business is really about P2P (people to people) and therefore always focus on relationships and engagement. "Business is socialising with a purpose" (Gaping Void) Passion, people, vision, strategy, customers, advocates, believers, innovation, customer engagement, social, knowledge management and appropriate use of technology are vital in the attainment of business goals. I am a co-founder of Movebubble, a new technology startup in #Proptech. This blog is really here to allow me to develop my voice and ideas, and gain feedback from a wider audience than just the lecture or breakout room. Hopefully i can introduce some interesting points, and experiment with digital, marketing, engagement, social media and SEO techniques and tips i am learning on the way. I hope you enjoy my posts, please let me know what you think with some feedback.

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  1. Pingback: The competitive positioning of the Firm « loganjehall - December 30, 2011

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