In the previous reading you learned about the difference between planning and strategy.
In this reading from Northumbria University about PESTLE and SWOT analyses, you will be exposed to a set of tools that a manager can use to plot the course of their company.
PESTLE (which is an acronym for P for Political, E for Economic, S for Social, T for Technological, L for Legal and E for Environmental) allows you to map out the context that your company, or even business unit, is functioning within.
SWOT (Strengths, Weaknesses, Opportunities and Threats) then takes each of the items you identify in the PESTLE analyses and further refine them by slotting the items you identified in PESTLE into the SWOT framework.
