PESTEL analysis is a strategic management tool that helps organizations understand and evaluate the external macro-environmental factors that can impact their business. The acronym PESTEL stands forPolitical,Economic,Social,Technological,Environmental, andLegalfactors. This analysis provides a comprehensive fram...
Strategic planning is forward looking. It differs from traditional business planning, which typically focuses on short-term, tactical goals, such as how a budget is divided up. The time covered by abusiness plancan range from several months to several years. The product of strategic planning is ...
What is strategic leadership? Strategic leadership is a practice in which executives, using different styles ofmanagement, develop a vision for their organization that enables it to adapt to or remaincompetitivein a changing economic and technological climate. Strategic leaders can use this vision to ...
Record everything in your competitor analysis report. Competitive Analysis Example (Step by Step) I did a basic competitive analysis for a fictional coffee subscription service to give you a better idea of how the process works and what insights you can get. Let...
SWOT analysis is a technique developed at Stanford in the 1970s, frequently used instrategic planning. SWOT is an acronym forStrengths,Weaknesses,Opportunities, andThreats and is a structured planning method that evaluates those four elements of an organization, project or business venture. A SWOT ...
3. Data without action is useless If you’re putting in the work to do a competitor analysis, don’t let your findings gather virtual dust. Make a strategic plan to respond to your competitors’ activities with your own updates. 4. Working harder instead of smarter Don’t reinvent the whe...
A group discussion (GD) is a collaborative communication exercise where individuals express their opinions, ideas, and knowledge on a given topic. Normally used in academic, professional, or social settings, group discussions assess participants’ communication skills, critical thinking, and ability to ...
2. Stakeholder Analysis Once you identify your project stakeholders, it’s time for thestakeholder analysis phase. This is when you’ll gather information and requirements from them. The main goal is to identify, understand and prioritize the stakeholders who can influence the outcome of the projec...
A competitive analysis helps businesses discover strengths and weaknesses of companies in their industry. Create a competitive analysis with this free template.
Step 1. Customer analysis (Opportunity) A good plan starts by asking 'Where are we now?'. Gain an overview via your customers, but don’t forget to ask therightquestions. One of my pet hates is the ‘hypothetical question’ e.g. A hotel asking “if youwouldstay here again?”...