The SWOT analysis is a method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats of a business venture. It involves specifying the purpose of the business and identifying the external and internal factors that are advantageous or against the business in achieving that purpose.
The PEST analysis describes the political, economic, social, and technological analysis used in environmental scanning of strategic management. It is a part of external analysis when conducting a strategic analysis or doing market research.
As the SWOT analysis considers both external and internal factors we do a SWOT of Maria's business.
Strengths: Maria is an excellent cook, her business has been successful, and she has developed a reputation for excellent hamburgers.
Weaknesses: Hamburgers are not perceived to be healthy food, her financial recording and accounting is unacceptable, and she has low control over the financial activities of her company. Her customers are leaving for competitors.
Opportunities: If Maria buys the super master grill, she can make even better hamburgers. She can ...
This posting gives you a step-by-step explanation of situational analysis of a small firm. The response also contains the sources used.