Explain what is SWOT and PEST analysis.?
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I need detail answer
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Answer:
SWOT is analyzing a business w.r.t to its own Strengths, Weaknesses, and the Opportunities it could exploit in the market place, and the possible threats from the environment including competition, obsolescence etc. (I suggest you read Michael Porter for a detailed knowledge!) PEST is the analysis of the environment in which a business is operating - Political, Economic, Social and Technological environments. How these factors affect the business and how the business should evolve its strategies to face the challenges forced by these factors!
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