Swot Analysis : Swot And Pest Analysis

3013 Words Nov 20th, 2014 13 Pages
This essay will examine SWOT analysis and PEST analysis on how they can benefit an organisation in developing strategy to achieve its goals. Organisations use SWOT analysis as a useful technique to understand their strengths and weaknesses, and also for identifying both opportunities open to them and the threats they face. When this strategy is used in a business context it could have a big impact, it helps them carve a sustainable niche in the market that they operate. When used in a personal context it helps a person develop in the career they chose to their best advantage of their talents, abilities and opportunities. I will explain the strategies that can be used by many organisations in order to keep their businesses running.
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For example Samsung and Apple sell technological gadgets like computers and mobile phones, they spend more time and resources on strategic planning that is on determining to their resources and capabilities to achieve their objectives and satisfy their customers.
An organisation strategic planning process begin with the analysis of the marketing environment on which the company is operating or intends to sells its products. They can be threatened by the political, legal, sociocultural and technological forces can threaten an organization and also influence on its overall goals and marketing objectives. However these can create favourable opportunities that will be translated into the knowledge it has about the environment. (Marketing) (2012 edition Hult, Pride, Ferrell)
The SWOT analysis is used as an internal factor that influence an organization’s competencies that give the company an advantage in meeting the needs of their targeted market, e.g. promotes its services, experience and reputation. Weakness refers to limitations a company faces in developing.
Organisations grow their businesses by increasing the number of people in the market who bought their product. The do a market development strategy; this is when they will be marketing existing products to the new market. For example they might have to sell their products in different countries but nothing about the products will have changed, it will be just being sold

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