Reason to Use SWOT and PESTLE Analysis
by Neil Kokemuller, Demand Media
SWOT and PESTLE analyses cover a full range of internal and external strategic business considerations.
A main reason companies use both SWOT and PESTLE is because these tools offer broad and effective analyses of key areas of a strategic plan. SWOT is an acronym that stands for strengths, weaknesses, opportunities and threats. PESTLE has wider coverage of business and external issues, including political, economic, social, technological, legal and environmental factors. Small businesses can better compete by using these critical tools to assess opportunities and challenges.
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