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Strategic analysis tools

Definition and concept

Strategic Analysis is:
‘… the process of conducting research on the business environment within which an organisation operates and on the organisation itself, in order to formulate strategy.’
BNET Business Dictionary

‘… a theoretically informed understanding of the environment in which an organisation is operating, together with an understanding of the organisation’s interaction with its environment in order to improve organisational efficiency and effectiveness by increasing the organisation’s capacity to deploy and redeploy its resources intelligently.’
Professor Les Worrall, Wolverhampton Business School

Definitions of strategic analysis often differ, but the following attributes are commonly associated with it:
1. Identification and evaluation of data relevant to strategy formulation.
2. Definition of the external and internal environment to be analysed.
3. A range of analytical methods that can be employed in the analysis. Examples of analytical methods used in strategic analysis include:
• SWOT analysis
• PEST analysis
• Porter’s five forces analysis
• four corner’s analysis
• value chain analysis
• early warning scans
• war gaming.

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