Topic > SWOT Analysis: Strategic Management Development

It no longer takes time. The strength of SWOT analysis is that you can understand your business and find the strengths and weaknesses of the business and use them to improve your business and develop strategies to counteract the weaknesses. The weakness of the SWOT analysis is that with it we cannot determine some factors that are both strength and opportunity, to find out you have to do in-depth research. It doesn't tell you which factors are important and doesn't provide solutions or alternatives for weaknesses or threats. You can get many ideas from it but it doesn't tell you which one is best for you. PESTAnalysis of parasites means analysis of four factors Political, Economic, Social and Technological. It is useful for understanding external factors that may affect the business. In politics we analyze the rules and regulations of the country, government position and stability so that we can know the political factors that can affect our business such as labor laws, tax guidelines and safety regulations. In economic factors we analyze issues that can affect our business such as changes in taxation, interest rates, inflation. In social factors we analyze factors such as demographic, cultural and education limitations. These are some social factors we need to consider when doing business. Through technology analysis we will be able to know the effect of technology on business as it will be positive or