Swot Analysis Essay

By assessing each strength, weakness, opportunity and threat an organisation is able to make an informed decision about whether a change to the business would result in a competitive gain or not. SWOT is advantageous in the way that it promotes good teamwork, defines focus and scope, verifies the facts and provides information to allow further analysis for a well informed decision to be made. Before a SWOT analysis is initiated relevant facts and information will need to be researched to enable accurate information to be provided to the group. It is important the group selected are able to work well together to avoid team dysfunction including absence of trust, fear of conflict, lack of commitment, avoidance of accountability and inattention. If a SWOT is not carried out correctly the results will not be accurate and will lead to a lack of action or the incorrect decision being made. SWOT analysis is an easy to use technique which helps the business focus on its strengths, minimize threats, and take the greatest possible advantage of opportunities available.
Environmental: These factors include all those that influence or are determined by the surrounding environment. This aspect of the PESTLE is crucial for certain industries particularly for tourism and farming. Factors of a business environmental analysis include climate, weather, geographical location, global changes in climate, environmental offsets etc.

PESTLE analysis is a simple but important and widely-used tool that helps to understand the big picture of the Political, Economic, Socio-Cultural and Technological environment a business is operating in. There are many templates available online for businesses to assist them when using the PESTLE analysis. Creately notes that while the external factors are looked at closely during PESTLE there are no internal evaluations carried out. Therefore, it is a good idea to carry out both SWOT and PESTLE to help provide the business with the best