What are the differences between PESTLE and SWOT analysis?
PESTLE analysis focuses on external factors like Political, Economic, Social, Technological, Legal, and Environmental influences, while SWOT analysis evaluates internal strengths and weaknesses alongside external opportunities and threats.
Can you give me an example of each analysis?
Sure! For PESTLE, consider a tech company analyzing regulations (Legal) and market trends (Economic). For SWOT, the same company might identify its strong R&D (Strength) and competition (Threat).
Which analysis is better for strategic planning?
It depends on your goals. PESTLE is great for understanding the external environment, while SWOT helps in assessing internal capabilities and external challenges.
Can I use both analyses together?
Absolutely! Using both can provide a comprehensive view, combining external factors from PESTLE with internal insights from SWOT.
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