Are you working on an international business strategy assignment? Want to get a top grade? If so, you’ll need to approach it strategically, like the experts do.
Not sure how?
Don’t worry! Just understand the case study you’ve been given and thoroughly analyze its details. Then, you can write your assignment flawlessly. To give you the best international business strategy assignment help with, here are two common methods used by professionals to plan for the future.
Curious to know what they are?
They’re called “SWOT Analysis” and “PEST Analysis.” By understanding these methods, you can choose the best one for your assignment.
With the help of this analysis, you can identify the strengths of the enterprise, work on its weaknesses, and take advantage of opportunities while dealing with threats.
SWOT analysis is highly valuable for planning strategically and is considered a powerful tool for understanding the company’s position.
Strengths
Strengths are resources or abilities that help you achieve the project’s goals. To identify strengths effectively, ask yourself these questions:
- Question 1: What are the advantages of the current situation?
- Question 2: What do other people see as our strengths?
- Question 3: What can we do well to achieve the objective?
By considering these questions, you can easily identify and highlight the organization’s strengths in your international business strategy assignment.
Weaknesses:
Weaknesses are faults, limitations, or shortcomings in a product or service that can lead to failure. To identify weaknesses, ask yourself:
- Question 1: What should we avoid?
- Question 2: What needs improvement?
- Question 3: What are we not good at?
This helps you understand what the company lacks and where it falls short. By addressing these questions, you can identify the weaknesses of the organization.
Opportunity:
Opportunity refers to external factors that are connected to the outside environment. Using these factors wisely can lead to significant benefits for a company. When discussing this aspect in your assignment, it’s important to highlight key points and identify opportunities to make your assignment more effective.
Threats:
Threats are risks within an organization’s environment and projects. To identify threats, it’s important to examine obstacles faced and actions taken by competitors. Additionally, factors such as changing demands, trends, technology, and product/service requirements should be considered.
This allows for a comprehensive understanding of the organization’s threats, which can then be addressed in your international business strategy assignment.
By implementing a thorough analysis, you can identify both positive and negative aspects of the organization and conduct research accordingly. This process not only helps evaluate the current state but also assists in devising strategies to overcome obstacles.
Many students use SWOT analysis to find problems within a case study, but if you want to look at external issues, try PESTLE analysis. It helps understand the outside environment and is useful for making big decisions. It can also give you a better understanding of the organization’s surroundings.
This method is different from SWOT analysis
Political
Political factors are things outside of a business that affect it. They help you see how political decisions can impact opportunities. It’s important to handle these factors well. Other political factors include:
- International trade rules
- Government laws
- Environmental laws
- Taxes
- Employment rules
- Competition rules
- Protecting consumers
These are important things to consider when working on assignments.
Economical
Saving money is really important because it affects the business in the long term. Before planning and using this approach, there are certain things to keep in mind:
- How much the economy is growing
- What the government is doing with money
- How much the government is spending
- How much tax people have to pay
- How much it costs to exchange money
- How prices are changing
- What stage the business is at
By thinking about these things, you can understand how money affects the case study you’re working on and talk about it in your assignment.
Social Factor
This aspect involves looking at how people interact within the market and understanding things like their income levels, lifestyles, and behaviors. By studying this, you can figure out what people want and need, and then improve your products and services accordingly. It’s a great way to understand what’s happening now and make your work better.
Technology Factor
Here, you’re examining the latest technology trends in the business world. It’s all about how new inventions are affecting how businesses operate and how the market works. Some things to consider are:
- The internet
- How much governments spend on research
- How changes in technology affect things
- New discoveries and developments
- How quickly businesses adopt new technology
- How often technology becomes outdated
- How much energy technology uses and how expensive it is
By thinking about these points, you can get a good grasp of a company’s technological side. It just takes some good old-fashioned research.
Wrapping Up
Now that you understand the differences between the two methods, you can decide which one to use for evaluation. Some businesses prefer SWOT, while others prefer PEST.
According to business strategy assignment help experts, SWOT analysis is better because it considers both internal and external factors. With PEST analysis, you only focus on external factors. Ultimately, the choice is yours to make.
