SWOT and PEST analysis

International Trade & Business

Jul 4, 2011

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Two very useful career-planning techniques are the SWOT analysis and the PEST analysis. These tools comes in very handy, when it comes to problem solving and decision-making in your career.

One kind of such context analysis, called SWOT analysis, allows the business to gain an insight into their strengths and weaknesses and also the opportunities and threats posed by the market within which they operate. The main goal of a context analysis, SWOT or otherwise, is to analyze the environment in order to develop a strategic plan of action for the business.

As SWOT Analysis is an essential tool in Strategic Planning, it takes into consideration of the four SWOT factors - Strengths, Weaknesses, Opportunities, and Threats. These are the four basic parts to this analysis in internal and external environments. It examines strengths and weaknesses in the internal environment, and opportunities and threats in the external environment. This management tool allows one to set a course in career planning. SWOT is a decision-making aid that provides a framework for formulating and developing strategies.

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