What's is swot and pest?

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SWOT and PEST are strategic analysis tools used to assess the internal and external environment of an organization or business.

SWOT Analysis:
SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. This tool helps organizations evaluate their current position and make informed decisions.

1. Strengths: Internal factors that give the organization an advantage, such as strong brand, skilled workforce, or unique technology.


2. Weaknesses: Internal factors that put the organization at a disadvantage compared to competitors, such as limited resources or inefficient processes.


3. Opportunities: External factors that the organization can use to its advantage, such as new market trends or regulatory changes.


4. Threats: External factors that could pose challenges to the organization, such as intense competition or economic shifts.

PEST Analysis:
PEST stands for Political, Economic, Social, and Technological. This tool analyzes the broader factors that can impact a business.

1. Political: Factors such as government policies, laws, and political stability that can affect the business environment.


2. Economic: Factors like inflation rates, interest rates, or the overall economic condition that influence consumer behavior.


 3. Social: Factors such as demographic changes, social behaviors, and culture that can impact demand for products or services.

4. Technological: Technological advancements and innovations that could disrupt or shape the market and industry.

Differences:

- SWOT


focuses on both internal factors (Strengths and Weaknesses) and external factors (Opportunities and Threats).


- PEST focuses only on external factors (Political, Economic, Social, and Technological).

Both tools complement each other and are often used together to create comprehensive strategies.

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