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In strategic management, situation analysis (or situational analysis) refers to a collection of methods that managers use to analyze an organization's internal and external environment to understand the organization's capabilities, customers, and business environment. [1]
The scanning process makes the organization aware of what the business environment is about. It allows the organization to adapt and learn from that environment. [19] When the company responds to an environmental scanning process it allows them to easily respond and react to any changes to both the internal and external business environment.
A business plan is a formal written document ... and pleasingly formatted plan targeted at external stakeholders. ... business description; business environment ...
In business analysis, PEST analysis (political, economic, social and technological) is a framework of external macro-environmental factors used in strategic management and market research. PEST analysis was developed in 1967 by Francis Aguilar as an environmental scanning framework for businesses to understand the external conditions and ...
In strategic planning and strategic management, SWOT analysis (also known as the SWOT matrix, TOWS, WOTS, WOTS-UP, and situational analysis) [1] is a decision-making technique that identifies the strengths, weaknesses, opportunities, and threats of an organization or project.
The business model canvas is a strategic management template that is used for developing new business models and documenting existing ones. [2] [3] It offers a visual chart with elements describing a firm's or product's value proposition, [4] infrastructure, customers, and finances, [1] assisting businesses to align their activities by illustrating potential trade-offs.
Marketing strategy includes every marketing activity that helps an organization target the market after conducting market research. [14] The go-to-market strategy usually develops during the introduction of new products or services. [citation needed] Marketing strategy covers: [15] the products or services of a business
Furthermore, many other strategic decisions are based on this analysis. One may also apply the BBW model. [2] [3] In addition, the factors are analyzed to evaluate external business developments. [4] It is finally the task of the management to adapt the firm to its environment or to influence the environment in an adequate way.
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