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Katy discusses the importance of strategic analysis and its importance in the field of management. She talks in depth about methods such as SWOT analysis, PESTEL, and Porter’s Five Forces and how a business could use them to their advantage. Lastly, she explains how strategic analysis is not only important to businesses, but also to entrepreneurs.

Episode Highlights:

• Definition of Strategic Analysis
• How Micro and Macro Environment Can Affect a Business
• What Is SWOT Analysis
• How To Use SWOT Analysis
• SWOT Vs. PESTEL Vs. Porter’s Five Forces
• What Are Porter’s Five Forces
• Using PESTEL To Analyze Working In Restaurant/Service Industry Vs. Seeking Higher Education
• Evaluating a Businesses Rivals
• Identifying Direct and Indirect Competitors
• Importance of Competitive Advantage
• Differentiation Strategy: VRIO
• Creating a Strategic Position from Strategic Analysis
• Using Competitive Advantage from Strategic Position
• Establishing Reputation as a Brand
• Strategic Analysis for Entrepreneurship

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Deconstructing Management (https://anchor.fm/deconstructingmanagement) by Management Students of Nicole Colter is licensed under CC BY 4.0 (https://creativecommons.org/licenses/by/4.0/) and draws from Principles of Management (https://openstax.org/details/books/principles-management) from OpenStax which is licensed under CC BY 4.0 (https://creativecommons.org/licenses/by/4.0/)

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