Swot Analysis M S - 991 Words

Having the ability to make decisions based on the information that is received by using management tools such as SWOT and PEST allows managers to inform decisions regarding business strategies. This essay will discuss the usefulness and limitations of SWOT and PEST analysis in relation to Marks Spencers and how managers may overcome any limitations and improve management decisions. MS is an international company that was founded in 1884. MS has a range of products and services for their customers that consist of food, clothing and home products that are respectively sourced from around 3,000 suppliers (Townsend, 2014). SWOT analysis consists of data analysis with both internal and external factors within a business. The management tool consists of four different factors that include: strengths, weaknesses, opportunities and threats. Analysing these components allows businesses to make important management decisions to improve their business. Elements such as strengths and weaknesses are internal factors that are taken into consideration whilst being compared with other competitors (Fong, 2007). The strengths that MS have within their competitors is their diversity of quality products and services and that they are an international company operating in many countries. Similarly they are in diverse locations within the country such as having stores across high streets and out of town retail parks (Corporate.marksandspencer.com, 2014). Having the ability to use managementShow MoreRelatedPest Analysis : Pest And Porter s Five Forces1314 Words   |  6 PagesAccording to Mind tools (n.d.). PEST Analysi s, PEST and Porter s five Forces each analyze different aspects of a business. PEST (Political, Economic, Socio-cultural and Technical) factors are often considered to gauge the expected impact of business decisions, and the likelihood that the trend set will continue in a particular direction. 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