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SWOT Analysis and Porter's Five Forces are both strategic tools used in business to understand and navigate the competitive landscape. SWOT Analysis focuses on identifying a company's internal Strengths and Weaknesses, and external Opportunities and Threats. On the other hand, Porter's Five Forces is a model that identifies and analyzes five competitive forces that shape every industry and helps determine an industry's weaknesses and strengths. These forces are: Competition in the industry, Potential of new entrants into the industry, Power of suppliers, Power of customers, and Threat of substitute products. So, while SWOT is a comprehensive overview of a company's state, Porter's Five Forces is more focused on the industry's competitive environment. Both are used together to develop robust competitive strategies.
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Once you've analyzed your competitive landscape, it's time to assess yourself. SWOT Analysis is a common framework used by execs to determine their company's strengths, weaknesses, opportunities and threats. Strength and weaknesses are internal, company oriented, while opportunities and threats are more external, macro-oriented. (Slide 10)
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Do you feel trapped to outdo competitors? Better strategies can build a stronger defense against competition and generate higher ROI on your strategic...
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