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Comprehensive discussion of atleast 3 of the followingPESTEL, 5F, RBV, Profit, I/O, SWOT, and CIA with academic References and practical example

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Comprehensive discussion of atleast 3 of the followingPESTEL, 5F, RBV, Profit, I/O, SWOT, and CIA with academic References and practical example
Answered Same Day Apr 07, 2020 HI6006

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Soumi answered on Apr 16 2020
152 Votes
STRATEGIC MANAGEMENT
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Table of Contents
Introduction    3
Three Key Strategy Development Tools    3
PESTEL Analysis    3
Five Forces Analysis    3
SWOT Analysis    4
Implications of the Key Strategy Development Tools on the Three Selected Industries    4
Use of PESTEL Analysis in Age Care Industry    4
Use of Five Forces Analysis in Child Care Industry    4
Use of SWOT Analysis in Education Industry    5
Conclusion    5
References    6
Introduction
Strategy development tools are some intangible tools that help to analyze the business situations for a company, based on which it develops its business strategies. These tools implement certain analytical techniques, such as SWOT, PESTEL, Porter’s Five Forces and Input-Output analyses, that help to identify the key factors affecting the company or industry’s business operations, understand their business environment, prioritize the concerns accordingly and finally, frame strategies according to them. The present essay endeavors to discuss three of such tools and analyze their implications in terms of three selected areas— the child care, education as well as age care industry.
Three Key Strategy Development Tools
PESTEL Analysis
PESTEL is the a
eviation for the Political, Economic, Socio-cultural, Technological, Environmental and Legal factors that affect the functioning of an organization. As mentioned by Lichten et al. (2015), these factors are considered as the external factors of the market that affect the company, which is why they are also refe
ed to as macro-environmental factors. This is so because these factors are not present in the internal environment of the company and are prevalent in the market where the company might not be responsible at all for the emergence of these impacts (Pestle et al. 2014).
The political factors comprise of those factors, which are related to the government of the country, in which the company’s market operates such as taxes, political stability and laws. Economic factors such as economic stability, growth and strength of the country also affect the profitability of the company. As stated by Zalengera et al. (2014), socio-cultural factors such as population demography, cultural beliefs and preferences determine customer choices. Technological factors are those relating to the innovative ways of producing, marketing or selling goods, with the use of new devices or equipment. Environmental factors such as sustainable strategies, ethical processes of operations and use of renewable energy lead to organizational profitability; while legal factors such as trade laws as well as intellectual property rights related to new products also affect the success of the business (Iglinski et al. 2016).
Five Forces Analysis
Five Forces Analysis was developed by Michael Porter for analyzing the extent, to which an organization can achieve competitive advantage in a market. As stated by Chenyu and Wen (2016), it helps to analyze the competitiveness of the company, within the market in which it operates. These factors are threats of the competitors, threats of the substitutes, threats of the new entrants, bargaining power of the customers...
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