BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Changes in the external environmental also may present threats to the firm. Some examples of such threats include: shifts in consumer tastes away from the firm’s products. emergence of substitute products.

Detailed explanation-2: -Social factors include demographics (age, gender, race, family size); consumer attitudes, opinions, and buying patterns; population growth rate and employment patterns; socio-cultural changes; ethnic and religious trends; living standards.

Detailed explanation-3: -Definition: PEST Analysis is a measurement tool which is used to assess markets for a particular product or a business at a given time frame. PEST stands for Political, Economic, Social, and Technological factors. Once these factors are analysed organisations can take better business decisions.

Detailed explanation-4: -A SWOT analysis should generate a brief list of issues relevant to the 4 categories-strengths, weaknesses, opportunities and threats. The analysis of these issues helps the business make meaningful changes.

Detailed explanation-5: -A PESTLE analysis studies the key external factors (Political, Economic, Sociological, Technological, Legal and Environmental) that influence an organisation. It can be used in a range of different scenarios, and can guide people professionals and senior managers in strategic decision-making.