FreePint contributor Andrew Grave shares how strategy tools such as SWOT, PESTEL, and Porter’s Five Forces can be key in competitive intelligence analysis. Brief descriptions of the tools:

  • SWOT “is an audit of an organization’s strategic position using four quadrants: strengths, weaknesses, opportunities and threats.”
  • PESTEL “is a popular framework to aid in the understanding of forces that may impact an organization. PESTEL stands for Political, Economic, Social, Technical, Environmental and Legal.”
  • Porter’s Five Forces, created by Michael Porter, “shows how competitive a service line or product is by taking an economics perspective.” The Five Forces model includes: threat of new entrants, bargaining power of buyers, competitive rivalry, bargaining power of suppliers and threat of substitutes.
Advertisements