PEST Analysis

What is PEST Analysis? PEST Analysis is a strategic framework used to evaluate the external environment for a business by breaking down the opportunities and threats into Political, Economic, Social and Technological factors. PEST analysis can be an effective framework to use in Corporate Strategy Planning, useful in identifying the pros and cons of Business Strategy. Below…

Strategic Management

What is Strategic Management? Strategic management is the formulation and implementation of the major objectives and projects, by an organization’s management on behalf of its shareholders (or owners). Typically the formulation process starts with an assessment of available resources, an industry analysis to asses the competitive environment in which the company operates, and an internal operations…

mission

Mission Statement

What is a Mission Statement? A mission statement defines what line of business a company is in, and why it exists or what purpose it serves. Every company should have a precise statement of purpose that gets people excited about what the company does and motivates them to become part of the organization. A mission…

External Analysis

What is External Analysis? External analysis means examining the industry environment of the company, including factors such as competitive structure, competitive position, dynamics, and history. On a macro scale, external analysis includes macroeconomic, global, political, social, demographic, and technological analysis. The primary purpose of external analysis is to determine the opportunities and threats in an…

risk management

Risk Management

What Is Risk Management? Risk management encompasses the identification, analysis, and response to risk factors that form part of the life of a business, and it is usually done with its best interest in mind. Effective risk management means total control of future outcomes proactively rather than reactively. Therefore, effective risk management offers the potential…

First Mover Advantage

What is the First Mover Advantage? The first mover advantage refers to an advantage gained by a company that first introduces a product or service to the market. The first mover advantage allows a company to establish strong brand recognition and product/service loyalty before other entrants. It is important to note that the first mover…

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Industry Analysis

What is Industry Analysis? Industry analysis is a market assessment tool used by businesses and analysts to understand the competitive dynamics of an industry. It helps them get a sense of what is happening in an industry, i.e., demand-supply statistics, degree of competition within the industry, state of competition of the industry with other emerging…

Corporate Strategy

What is Corporate Strategy? Corporate Strategy takes a portfolio approach to strategic decision making by looking across all of a firm’s businesses to determine how to create the most value.  In order to develop a corporate strategy, firms must look at how the various business they own fit together, how they impact each other, and…

Threat of New Entrants

What is Threat of New Entrants? The Threat of New Entrants, one of the forces in Porter’s Five Forces industry analysis framework, refers to the threat that new competitors pose to current players within an industry. It is one of the forces that shape the competitive landscape of an industry and helps determine the attractiveness of…