Critically evaluate the PESTLE and SWOT tools and discuss when it Assignment

Critically evaluate the PESTLE and SWOT tools and discuss when it would be appropriate for a strategic HRBP to them. Support you - Assignment Example It will also discuss another relevant theory with regard to its application in HR field. PESTLE/PEST PESTLE/PEST analysis explores different external macro-environmental situations such as political, economical, social, and technological factors in which the firm operates (PEST analysis). In other words, the PEST analysis is an overall environmental scan so as to assess opportunities and threats in the external environment. PEST analysis is a widely adopted concept and it has large number of applications as listed below; Business planning: this tool gives accurate information to management regarding targets toward the development of new products. Marketing planning: it also improves marketing planning process by providing valuable elements in a situation analysis phase. SWOT is the acronym of strengths, weaknesses, opportunities, and threats. It is a globally accepted concept that explores internal organizational factors such as strengths and weaknesses and external environmental fac tors such as opportunities and threats of a project. The SWOT analysis provides beneficial information whether a firm’s resources and potentials fit with the competitive environment in which it operates (SWOT analysis). Main applications of this concept are discussed below Strengths such as patents, reputation, and strong brand name; and weaknesses like poor brand name and high cost structure can be identified. Arrival of new technologies and withdrawal of regulations are some of the opportunities to a business whereas trade barriers and introduction of substitute products are threats. SWOT analysis focuses on these issues also. In addition, there are a lot of advantages and disadvantages to both techniques. Firstly, both these methods are easy to understand and simple to operate. PEST tool is very effective for assessing external changes in the case of multinational companies. The SWOT analysis is suggestible to achieve organizational mission while PEST analysis brings a cle ar picture of business’ external environment. A SWOT analysis can be performed by anyone who has adequate information regarding the day to day operation of the business and the market; hence it is a cost effective method. At the same time, a PEST analysis develops strategic thinking and clearly points out the threats to a business. Similarly, PEST tool would assist the organization to avert future difficulties. Although the simplicity of SWOT analysis is beneficial for a firm to reduce related expenses, it also eliminates the possibility of a critical presentation. Since the SWOT analysis does not assess the degree of threats and opportunities, the results obtained from this method require further research in order to get a comprehensive picture. The rapid changing nature of society raises many difficulties to PEST analysis in anticipating future developments. According to Haughey, PEST analysis tends to rely on assumption and therefore, it would minimise the accuracy of outc omes. In the opinion of Rabin (1999), Organisational downsizing is a management strategy that aims to focus more on the business activities by reshaping the firm’s structure into a smaller size. By downsizing the organisation, the management can terminate employees with poor performance; and it is possible to maintain a group of potential workers. The SWOT and PEST analyses greatly contribute to

Objectives Assignment Example | Topics and Well Written Essays - 500 words - 1

Objectives - Assignment Example The assumptions that are contained in the theory are put into practice to determine if they stand as claimed or otherwise. On the other side, research is the process of coming up with new ideas and knowledge in the nursing discipline through either laboratory tests or experiments or going out to the field and collecting data for analysis. Research is what is on the ground, and any information that is as a result of research is deemed to be accurate and thus ideal for making informed decisions (Tappen, 2011). The three elements correlate as they depend on each other. For instance, research is the initial step among them all; personnel go out to the field and collect empirical data for analysis. However, most nursing research is laboratory based where experiments and tests are conducted to ascertain some principles or facts. Once the research has been established a theoretical framework or documentation is developed on which individuals who want to further their knowledge in a particular field learn from (Moule & Goodman, 2009). Theory is what is taught in nursing schools after research has been conducted, and the relevant theoretical frameworks designed. Nursing is a practical discipline thus all the knowledge that is learned theoretically in class has to be put into actual practice, which entails dispensing theoretical knowledge that is taught in class in a real world environment to ensure it is consistent with what had been earlier researched. Therefore, practice is what the entire nursing profession is built on as it is the act of rendering services to the patients (Moule & Goodman, 2009). However, discrepancies between practice and standards can be identified by comparing the outcome from the practical work with the standard’s that had been established earlier. It is prudent that standards are accurate and so that the outcome of the practical work can reflect what had been set earlier. Thus, discrepancies are dangerous as