ENTREPRENEURIAL OPPORTUNITIES
MARKET RESEARCH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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BEST analysis
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SWOT analysis
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Shareholder analysis
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Stakeholder analysis
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PEST analysis
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Detailed explanation-1: -A PESTLE analysis is a tool used to gain a macro picture of an industry environment. PESTLE stands for Political, Economic, Social, Technological, Legal and Environmental factors. It allows a company to form an impression of the factors that might impact a new business or industry.
Detailed explanation-2: -First, brainstorm the changes happening in your business environment that will likely impact your organization, focusing on the four key areas of PEST – politics, the economy, socio-cultural changes, and technology.
Detailed explanation-3: -Analyse Oncoming Trends. Identify any changes occurring in your chosen market and analyse their potential cause through a political, social, economic and technological lens. Identify Potential Threats. Identify Potential Opportunities. Enact a Plan.