SWOT Analysis, PESTEL Analysis, and Porter's Five Forces Analysis are commonly used

strategic tools to assess business environments and make informed decisions.SWOT

Analysis:

● What is it: SWOT stands for Strengths, Weaknesses, Opportunities, and

Threats. SWOT analysis is a framework used to evaluate the internal and
external factors that can affect the performance of a company, project, or
product.
● Explanation: Strengths and weaknesses are internal factors, representing
the company's inherent capabilities and limitations. Opportunities and
threats are external factors, representing potential avenues for growth and
challenges that the company may face.
PESTEL Analysis:
● What is it: PESTEL stands for Political, Economic, Social, Technological,
Environmental, and Legal factors. PESTEL analysis is a framework used to
assess the external macro-environmental factors that can impact an
organization's operations and strategies.
● Explanation: PESTEL analysis involves identifying and evaluating factors in
each category that could influence the organization's performance,
decision-making, and future prospects.
Porter's Five Forces Analysis:
● What is it: Porter's Five Forces is a framework developed by Michael
Porter that assesses the competitive forces within an industry. The five
forces are: Threat of New Entrants, Bargaining Power of Buyers,
Bargaining Power of Suppliers, Threat of Substitute Products or Services,
and Competitive Rivalry within the Industry.
● Explanation: This analysis helps in understanding the competitive intensity
and attractiveness of an industry by examining the interactions between
these five forces.