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Key strategic development tools

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Write an essay explaining what the main strategy development tools are and how they are used in business. Your essay must contain a comprehensive discussion of 4 of the following: PESTEL, FiveForces, Resource-Based View, PROFIT, Input/Output, SWOT Analysis (you may include Cross ImpactAnalysis), Generic Strategies, Ansoff, Ghemawat, with reference to academic journals and practical examples from industry....

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Question Preview:
Write an essay explaining what the main strategy development tools are and how they are used in business. Your essay must contain a comprehensive discussion of 4 of the following: PESTEL, FiveForces, Resource-Based View, PROFIT, Input/Output, SWOT Analysis (you may include Cross ImpactAnalysis), Generic Strategies, Ansoff, Ghemawat, with reference to academic journals and practical examples from industry.

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Solution preview

The fundamental purpose of the paper is to evaluate the four strategic models such as five forces, PESTEL, generic strategies or resource-based view used by all business entities. The strategic tools help in identifying various opportunities or aspects so that the company will make a powerful strategy to compete in a competitive environment.

Porter’s Five ForcesThe five forces model has been developed by M. Porter for understanding the effects of competitive forces in the firm. It refers to a strategic tool used for analyzing the intense competition as well as the profitability of the organization (Mathooko and Ogutu, 2015).

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