Management SWOT and PEST Tools
Management SWOT and PEST Tools
Introduction
In the management field, PEST and SWOT analysis can be used to help in decision-making. SWOT is a useful tool that can be used for strategic planning, the evaluation of competitors, and product and business development. The PEST analysis refers to Political, Economic, Social, and Technological issues that may affect a business in one way or another. This is useful in conducting the industry analysis to evaluate the external factors that may impact a business. According to Scott-Quinn, a SWOT analysis is useful in summarizing key issues that arise from the assessment of the ...
