PEST and Porter's 5 Forces: Usefulness in an External Analysis

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Write a paper explaining what information is available, on the attached websites and publications, and how it would be useful in an external analysis, and critiquing the source (for example, what are the limitations of the source? Is one better than the other? Why? The Websites and publications are attached.

My first suggestion would be adding scholarly publications in addition to the websites from news articles. News can be one sided and may not have valid references to verify accuracy. The other issue with the references furnished in the author will be bias. The government sites are advantageous for accuracy in demographics but are not always timely. I should also note that industry information available by Reuters, Hoovers, etc. has a danger of inaccurate sector figures. The actually company website has information based on actual profit and loss and balance sheets. However, caution should be given that dates should be matched for a clearer picture. For example the first quarter cannot be matched to another companies 2nd quarter and reputable sites should be compared for interpretation. It is important to check the company's actual statements that would be available on their websites. Also note the fine print and explanation of statement to make sure there is a comparison of apples to apples. As more companies become more diversified, it can be hard to track owners through diluted segments, global extensions, and partnerships.

News articles are good for external analysis but there is also a need to complete an internal analysis that can be done with research on companies from their websites, listening to opinions from sources such as Reuters, and scholarly sources. The combination of prospective is what demonstrates validity.

Strategy:

Although many definitions such as Collins Dictionary of Business explain strategy as a "unified set of plans and actions designed to secure the achievement of the basic objectives of a business" (2006) there are other viewpoints. As an example, Porter presents a more in depth viewpoint using the words "sustainable profitability" (1996) which is a more comprehensive global approach. Many authors speak of managing activities internally and responding to internal or external environments rather than a proactive stance that includes a comprehensive evaluation, development, alignment, implementation, and continuous re-alignment.

Porter's view of strategy is considering sustainability and long-term growth and profits ...