SWOT Analysis VS PESTLE Analysis?

I learned both of this analysis in the second week classes. By doing the group discussion in class, I able to understand the use of the function on both analysis. Let’s me share my knowledge about the SWOT and PESTLE analysis in brief.

What is SWOT Analysis?

      S = Strengths – The advantages that we have over the competition concerning the project.

     W = Weaknesses – The disadvantages that we have internally compared with our competitors.

      O= Opportunities – Current external trends which are waiting to be taken advantage of.

      T = Threats – External movements which may cause a problem and have a negative impact on     our business. 

From each point, it is possible to identify the internal advantages or disadvantages which could be benefit to the outcome of a planned project. Besides, by using this analysis we also able to discover the external factors which could make a organization are success or failure of a project. It is a good to work through the SWOT Analysis in the early stages of project planning.

While, what is PESTLE Analysis?

It is stands for the analysis of the external factors which be beneficial when conducting research before beginning a new project or to help conduct market research. Unlike SWOT analysis, this strategy is more directly aimed at the external macro environmental factors that might be affecting the position of the business, the reasons behind growth or decline in the market and also identify new directions for the business as a whole.

      P= Political – Laws, global issues, legislation and regulations which may have an effect on our business either immediately or in the future.

      E= Economic – Taxes, interest rates, inflation, the stock markets and consumer confidence all need to be taken into account.

      S= Social – The changes in lifestyle and buying trends, media, major events, ethics, advertising and publicity factors.

      T= Technological – Innovations, access to technology, licencing and patents, manufacturing, research funding, global communications.

      L= Legal – Legislation which have been proposed and may come into effect and any passed legislation’s.

      E= Environmental – Environmental issues either locally or globally and their social and political factors.

Introduction: all about me, myself and I..

My name is Normaayu Binti Isia, just call me Ayu. I am from Gombak, Wilayah Presekutuan Kuala Lumpur. I was born on 13^th November 1990. I have 5 siblings, which is 3 strong brothers and one gorgeous sister, I was the youngest once. My parent’s works as business partner in our family business. Probably because of that, I was motivated to become an entrepreneur in the future. (^^,)

In my education background, from primary school at SRKJ(C) Sentul Pasar to secondary school at SMK Setapak Indah until further my study at Kolej Matrikulasi Perlis (KMP) I was majored in accounting before I became a student at UTM. My favorite subject is Mathematics. I love to calculate and to solve the equation in mathematics issues. Surprisingly, I had been offered to take courses in Bachelor of Degree for Psychology (Industrial and Organizational Psychology). Although psychology is one from my list to continue studies but I do not expect that I would enter in this field and I realized that when taken in this area my skills in mathematics less be required. ;c a little sad..

Nevertheless, after studied and explore the Psychology field it becomes interesting because we are learn about the human being which consist cognitive, thinking, human behavior, development of human and so on. Now, almost three years I was here and right now I am at my final semester. Only have a few months for me to be a UTM student. After that sayonara UTM… again, a little sad :c..  and last but not least I am very thankful for having a lovely friends who are sincere to be my friends, they are very helpful and understanding.

That’s all from me.. Thank You