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Environmental Scanning and Monitoring
Environmental Scanning and Monitoring
Environmental Scanning and Monitoring
1. SWOT Analysis
2. PESTEL Analysis
Environmental Scanning and Monitoring
SWOT Analysis
The goal of SWOT analysis is to match company’s strength to attract
opportunities in the environment, while eliminating the weakness
and minimizing the threat.
For more information of SWOT analysis check the link below
https://www.youtube.com/watch?v=MRrE41ml30c&t=191s
Environmental Scanning and Monitoring
PESTEL Analysis
PESTEL analysis is a tool used by marketers to analyze and monitor
the macro environmental factors that have impact on an organization.
PESTEL stands for political, economical, social, technological, legal
and environmental factors.
We already discuss macro environment in detail in our previous
video, lets just go through the brief detail of these factors.
Environmental Scanning and Monitoring
Political Factors Technological Factors
- Government Policies - New Inventions and Development
- Political Stability/Instability - Information and Technology
- Taxation Policies - Changes in Mobile Technology
Economical Factors Legal Factors
- Economic Growth - Employment Laws
- Unemployment - Safety Regulations
- Inflation and Interest Rate - Competitive Regulation
Social Factors Environmental Factors
- Demographic changes - Climate changes
- Income Distribution - Environmental Policies
- Lifestyle and Fashion changes - Pressure from NGO’s