Hello, Thank you for your video, So you said that: PESTEL if for global word analysis, what about the SWOT and porter ? Porter: inside the firm? and the swot : inside the firm and industry environment ? Thank you :)
Porter's 5 Forces is for industry analysis. Resource Based View (RBV) is for firm analysis. PESTLE is for everything outside those two that could impact either. SWOT is more a handy way to organize your findings from those three into categories because without the other analysis you don't know what is a strength, weakness, opportunity, or threat. E.g., A shift in consumer preferences towards metal water bottles (PESTLE) is a threat to a firm with a core competence in plastic-specific manufacturing (RBV), but a potential opportunity to a firm with a core competence in marketing new products that outsources all of its manufacturing (RBV). (note: I have videos on each of the these except SWOT)
@@videolectures1 Thank you very much for your answer!! You wrote core competence, its about what a company does better than its competitors? I will watch your videos, thank you, all the best :)
I am MBA student in Ethiopian i like your lecture but is better your face isn't shown at all because i am sort of destructed between the graph and looking at your face. And its better not to exceed more that 8 mints.
