Mod 2

PESTLE Analysis
Module-2
By Prof Srikanth Venkataswamy
What is PESTLE analysis?

PESTLE Analysis is a tool that can aid
Organizations making Strategies by
helping them understand the external
environment in which they operate
now and will operate in Future
PESTLE analysis aims to identify and
summarise environmental influences
on an organisation or policy.
What is PESTLE analysis?
The firms External

Environments
External / Remote
PestleEnvironments
Analysis
Industry
Operating
Environment
Global
&&Domestic
Domestic
Global
( Global&
Domestic)
THE FIRM
SWOT Analysis
Political , Government and

legal Variables
Political system
Political ideology
Government
stability
Taxation policy
Tax laws
Fiscal & monetary

policy
Foreign policy
Govt attitude towards
foreign firms
Governmental
regulation or
deregulations
Level of defense
expenditure
Govt employment
policy
Special local ,State
Economic Variables:
GDP trend
Inflation rates
Money market rates
Consumption patterns
Stock market trends
Level of economic
development
Trade Investment
Level of disposal
trends
incomes
Work productivity
Availability of credit
trends
Unemployment trends
Currency
Level of disposable
convertibility
income
Interest rates
Demand shifts of
various
products
Price fluctuations
Tax rates
Wage & Salary levels
Social , Culture, Demographic

Variables
Per captia Income
Social security
programs
Life expectancy rates
Child bearing rates
Child mortality rates
Education
Health trends
Racial equality
Ethical concerns
Sex ratios
Trust in governments
Lifestyles
Attitude towards
business
Population Changes
By Race, age, sex and
level of affluence
,city, country,
Regional changes in
taste and preferences
Social programs
Insurance
Attitudes towards
retirement
Environmental Variables:
Air pollution
Water pollution
Waste
management
Pollution control
Recycling
Energy
conservation
Ozone depletion
Endangered
species
ETOP (Environmental Threat and

Opportunity Profile)
Environment analysis results in a

mass of information related to
forces in the environment.
They deal with events, trends,

issues, and expectations.
Structuring of environmental
issues is necessary to make them
meaning full for strategy
formulation.
ETOP (Environmental Threat and
Opportunity Profile) is a technique
to structure environmental issues
10
ETOP Involves
Dividing the environment into
different sectors. Each sectors
can be subdivided into sub
sectors.
Analyzing the impact of each
sector and subsector on the
organization.
Describe the impact in the form
of a statement.
11
Using Different Methods,

Techniques, and Tools
Some of the major methods of analysis
can be
1. Scenario Building,
2. Benchmarking, and
3. Network methods.
Scenario presents overall picture of its
total system with affecting factors.
Benchmarking is to find the best standard
in an industry and to compare the ones
strengths and weakness with the
standard.
Network method is to assess
organizational systems and its outside
By Prof
Venkataswamy
environment
toSrikanth
find
the strength and 12
Advantage of ETOP
It provides a clear of which

sector and sub sectors have
favorable impact on the
organization.
It helps interpret the result of
environment analysis.
The organization can assess its
competitive position.
Appropriate strategies can be
formulated to take advantage
of opportunities and counter
13
Forecasting Environmental
Factors:
Collecting relevant information
from the selected areas and to
identify the variables in such areas
are the basics of analysis.
Analyzing the past information to
predict the future is the main
objective of this step.
Use of different methods,
techniques, and tools comes under
the analysis process.
14
Designing Profiles: ETOP

After analyzing the environmental
factors they are recorded into the
profiles.
Such profiles record each component or
variables into left side and their
positive, negative, or neutral indicators
including their statement in the right
side.
Internal areas are recorded in Strategic
Advantages Profile (SAP) and
external areas are recorded in
Environmental Threat and Opportunity
Profile (ETOP).
Strength, Weakness,
Opportunity, and 15
Threat (SWOT) profile can be designed
Value Chain
16
17
18
Value Chain Analysis:

Value Chain Analysis describes the activities
that take place in a business and relates
them to an analysis of the competitive
strength of the business.
Influential work by Michael Porter suggested that the
activities of a business could be grouped under two
headings:
(1) Primary Activities - those that are directly
concerned with creating and delivering a product
(e.g. component assembly); and
(2) Support Activities, which whilst they are not directly
involved in production, may increase effectiveness or
efficiency (e.g. human resource management). It is
rare for a business to undertake all primary and
support activities.
Value Chain Analysis is one way of
19
Linking Value Chain Analysis

to Competitive Advantage
What activities a business undertakes is
directly linked to achieving competitive
advantage.
For example, a business which wishes to
outperform its competitors through
differentiating itself through higher
quality will have to perform its value
chain activities better than the
opposition.
By contrast, a strategy based on seeking
cost leadership will require a reduction
in the costs associated with the value
chain activities, or a reduction in the
Prof Srikanth Venkataswamy
total amountBy of
resources used.
20
Primary Activities:
Primary value chain activities include:
Primary ActivityDescription:
1. Inbound logistics :All those activities
concerned with receiving and storing
externally sourced materials
2. Operations :The manufacture of products
and services - the way in which resource
inputs (e.g. materials) are converted to
outputs (e.g. products)
3. Outbound logistics: All those activities
associated with getting finished goods
and services to buyers
4. Marketing and sales :Essentially an
information activity - informing buyers
and consumers about products and
services (benefits, use, price etc.)
5. Service : All those
activities associated 21
Support Activities
Support activities include:
Secondary Activity Description
1. Procurement :This concerns how resources
are acquired for a business (e.g. sourcing
and negotiating with materials suppliers)
2. Human Resource Management :Those
activities concerned with recruiting,
developing, motivating and rewarding the
workforce of a business
3. Technology Development :Activities
concerned with managing information
processing and the development and
protection of "knowledge" in a business
4. Infrastructure :Concerned with a wide
range of support
systems and functions 22
such as finance, planning, quality control
Steps in Value Chain

Analysis
Value chain analysis can be broken down
into a three sequential steps:
1. Break down a market/ organisation into
its key activities under each of the major
headings in the model;
2. Assess the potential for adding value via
cost advantage or differentiation, or
identify current activities where a
business appears to be at a competitive
disadvantage;
3. Determine strategies built around
focusing on activities where competitive
advantage can
be sustained
23
Resource Based View of

the Firm-VRIO Framework
24
What is the Resource-based View/RBV of

the Firm?
Firms differ in fundamental ways

because each firm possesses a
unique bundle of resources
tangible and intangible assets and
organizational capabilities to make
use of those assets
25
Resource Based View/RBV

Differential performance of firms in the
same industry
Firm profitability driven by structure of
assets within the firm
Heterogenous and immobile assets
Exploiting firm differences
Dynamic capabilities view
Internal view, external view
26
The Resource-Based View Resources and

Capabilities
Resources:
tangible and intangible assets of a firm
tangible: factories, products intangible:
reputation
four general categories
(Financial, Physical, Human, and
Organization
used to conceive of and implement
strategies Capabilities:
a subset of resources that enable a firm
to
27
take full advantage of other resources
Examples of Different Resources

(selected)
Tangible Assets
Intangible Assets
Hampton Inns
reservation system
Budweisers brand
name
Dell Computers
customer service
Ford Motors cash

reserves
Dell Computers
reputation
Wal-marts purchasing
and inbound logistics
3Ms patents
Nikes advertising with

LeBron James
Sonys product
development process
Georgia Pacifics land

holdings
Katie Couric as NBCs

Today host
Cokes global
distribution
coordination
Organizational
Capabilities
28
VRIO Framework:
VRIO, the VRIO framework, is an internal
tool of analysis in the context of
Business management .
VRIO is an acronym for the four question
framework you ask about a resource or
capability to determine its competitive
potential:
1. The question of Value,
2. The question of Rarity,
3. The question of Imitability
(Ease/Difficulty to Imitate), and
4. The question of Organization (ability to
exploit the resource or capability).
29
Applying theVRIO
Framework
The Question of Imitability
The temporary competitive advantage of
valuable
and rare resources can be sustained
only if
competitors face a cost disadvantage in
imitating the resource
intangible resources are usually more
costly to imitate than tangible resources
and bundles of resources are more
costly than
single resources
(Harley-Davidsons styles may be easily
imitated, but its
By Profreputation
Srikanth Venkataswamy cannot)
30
Resource Inimitability
(Adapted)
Easy to imitate
Cash, commodities
Can be imitated (but may not be)

Capacity preemption, economies of
scale
Difficult to imitate
Brand loyalty, employee satisfaction,
reputation for fairness
Cannot be imitated
Patents, unique locations, unique
assets
31
Costs of Imitation :
Unique Historical Conditions
First mover advantages
Path dependence
Causal Ambiguity
Causal links between resources
and competitive advantage may
not be
32
Applying theVRIO
Framework
If a firms resources are:
The firm can expect:
1. NotValuable
2. Competitive Disadvantage
3. Valuable, but Not Rare
4. Competitive Parity
5. Valuable and Rare
6. Competitive Advantage (at least
temporarily)
33
SWOT Analysis:
34
SWOT Analysis:
Based on assumption an effective strategy derives from a sound fit
between a firms internal resources and its external situation
Opportunities
A major favorable situation
in a firms environment
Strengths
Threats
A major unfavorable situation
in a firms environment
Weaknesses
A resource advantage relative A limitation or deficiency in one

to competitors and the needs or more resources or
of markets firm serves
competencies relative to
competitors
35
Sources of Distinctive Competence

at Different Stages
Functional Introduction
Area
Marketing
Resources/skills
to create
widespread
awareness and
find acceptance
from customers ;
advantageous
access to
distribution
Growth
Maturity
Decline
Ability to
establish brand
recognition,
find niche,
reduce price,
solidify
strong
distribution
relations, and
develop new
channels
Skills in
aggressively
promoting
products to new
markets and
holding existing
markets;
pricing
flexibility;
skills in
differentiating
products and
holding
customer loyalty
Cost effective
means of
efficient access
to selected
channels and
markets;
strong
customer loyalty
or
dependence;
strong company
image
36
Sources of Distinctive
Competence at Different
Stages(contd.)
Functional
Area
Production
operations
Introductio
n
Growth
Maturity
Decline
Ability to
expand capacity
effectively,
limit number
of designs,
develop
standards
Ability to add
product variants,
centralize
production, or
otherwise
lower costs;
ability to
improve product
quality;
seasonal
subcontracting
capacity
Ability to
improve product
and reduce
costs;
ability to share
or reduce
capacity;
advantageous
supplier
relationships
subcontractin
g
Ability to
prune product
line;
cost
advantage in
production,
location or
distribution;
simplified
inventory
control;
subcontractin
g or
long
production runs
37
Stages(contd.)
Functional
Area
Finance
Introduction
Growth
Maturity
Decline
Resources
Ability
Ability
Ability
to support
high net cash
overflow and
initial losses;
ability to use
leverage
effectively
to
finance rapid
expansion, to
have net cash
outflows but
increasing
profits;
resources to
support
product
improvements
to
generate and
redistribute
increasing net
cash inflows;
effective
cost control
systems
38
to
reuse or
liquidate
unneeded
equipment;
advantage in
cost of
facilities;
control
system
accuracy;
streamlined
management
control
Stages(contd.)
Functional Introductio
Area
n
Personnel
Flexibility in
staffing and
training new
management;
existence of
employees with
key skills in new
products or
markets
Growth
Maturity
Decline
Existence of
an ability to add
skilled
personnel;
motivated and
loyal workforce
Ability to cost
effectively,
reduce
workforce,
increase
efficiency
Capacity to
reduce and
reallocate
personnel
39
Stages(contd.)
Functional Introductio
Area
n
Engineering
and R&D
Ability to
make
engineering
changes,
have
technical bugs
in product and
process
resolved
Key functional Engineering:

market
area and
strategy focus penetration
Growth
Maturity
Decline
Skill in quality
and new feature
development;
ability to start
developing
successor
product
Ability to
reduce costs,
develop
variants,
differentiate
products
Ability to
support other
grown areas or
to apply
product to
unique
customer needs
Sales:
consumer
loyalty;
market share
Production
efficiency:
successor
products
Finance:
maximum
investment
recovery
40
Formulating
Long-Term Objectives
41
Types of Long-Term Objectives:
Profitability
Productivity
Competitive position
Employee development
Employee relations
Technological leadership
Public responsibility
42
Qualities of Long-Term Objectives
Achievable
Acceptable
Criteria used
in preparing
objectives
Understandable
Flexible
Measurable
Suitable
Motivating
43
What is the Balanced Scorecard?
The Balanced Scorecard is a set of

measures that are directly linked to the
companys strategy.
It directs a company to link its own longterm strategy with tangible goals and
actions.
44
The Four Perspectives in a Balanced

Scorecard
1.
2.
3.
4.
Financial performance
Customer knowledge
Internal business processes
Learning and growth
45
The Balanced Scorecard

Financial
To succeed financially,
how should we appear to
our shareholders?
Customer
To achieve
our vision,
how should
we appear to
our
customers?
Vision
and
Strategy
Learningand
andGrowth
Growth
Learning
Toachieve
achieveour
ourvision,
vision,
To
howwill
willwe
wesustain
sustainour
our
how
abilitytotochange
changeand
and
ability
improve?
improve?
Internal
Business
Process
To satisfy our
shareholders
and customers,
what business
processes must
we excel at?
46
Environmental analysis:
Market Analysis
47
Market Analysis:
A market analysis studies the attractiveness and the
dynamics of a special Market within a special
industry. It is part of the industry analysis and this in
turn of the global environmental analysis.
Through all these analyses the chances, strengths,
weaknesses and risks of a company can be identified.
Finally, with the help of a SWOT Analysis , adequate
business strategies of a company will be defined.
The market analysis is also known as a documented
investigation of a market that is used to inform a
firm's planning activities, particularly around
decisions of inventory , purchase, work force
expansion/contraction, facility expansion, purchases
of capital equipment, promotional activities, and
many other aspects of a company
48
49
Implementing Analysis:
Implementing an environmental analysis for
marketing takes careful consideration of many
factors. The very nature of environmental analysis
changes with technology, government and
economics. It allows organizations to create
opportunities or predict and evaluate possible
threats.
The impact of analysis involves assessing the
impact and immediacy of trends and events that
underlie strategic uncertainty .
It depends on the impact on small business units
to organization. Sales, profits and/or costs may
not reflect the true value of a firm but are
evaluated in environmental analysis to determine
their importance and priorities.
Finally, market analysis is an aspect of
environmental analysis
that should be conducted 50
to explore assumptions about the future in order
Scenario Analysis : David Aaker

It is appropriate to do a scenario analysis
as a part of the environmental analysis
stage of strategic marketing analysis.
Scenario analysis assists in creating new
models of business with the everchanging environment in mind.
David Aaker (2001) suggests that,
Scenarios proved a way to deal with
complex environments in which many
relevant trends and events interact with
and affect one another. When a set of
micro trends and events are aggregated
into one, two, or three total scenarios of
the future environment, the analysis is
more manageable
Aaker tells that
scenarios
By Prof Srikanth
Venkataswamy are an excellent
51
Scenario analysis includes four parts

1. Identification of the scenarios is the first
step. This first step is useful in determine
priorities for addressing uncertainties.
2. Development of the scenario strategy is
the second part of scenario analysis. This
stage assists in creating a stronger
position in the market.
3. Estimating scenario probabilities is the
third part of scenario analysis. Estimating
scenario probabilities, according to Aaker
(2001) give a deeper understanding and
assists in determining underlying factors.
4. The final step is to perform regret
analysis. Regret analysis compares
expected outcomes
of each strategy. The52
formula for regret analysis is conducted by
Dimensions of market
analysis David A. Aaker
Dimensions of market analysis David A.
Aaker outlined the following dimensions
of a market analysis:
Market size (current and future)
Market growth rate
Market profitability
Industry cost structure
Distribution channels
Market trends
Key success factors
53
Market Size:
The market size is defined through
the market volume and the market
potential.
The market volume exhibits the
totality of all realized sales volume of
a special market. The volume is
therefore dependant on the quantity
of consumers and their ordinary
demand.
Furthermore, the market volume is
54
55
Market Growth Rate
A simple means of forecasting the market growth

rate is to extrapolate historical data into the
future. While this method may provide a firstorder estimate, it does not predict important
turning points. A better method is to study market
trends and sales growth in complementary
products. Such drivers serve as leading indicators
that are more accurate than simply extrapolating
historical data.
Important inflection points in the market growth
rate sometimes can be predicted by constructing a
product diffusion curve. The shape of the curve
can be estimated by studying the characteristics
of the adoption rate of a similar product in the
past.
Ultimately, many markets mature and decline.
Some leading indicators of a market's decline
include market saturation, the emergence of
By Prof Srikanth
Venkataswamy
substitute products,
and/or
the absence of growth56
Market Profitability:
While different organizations in a
market will have different levels of
profitability, they are all similar to
different market conditions. Michael
Porter devised a useful framework for
evaluating the attractiveness of an
industry or market.
This framework, known as Porter's
five forces, identifies five factors that
influence the market profitability
57
Industry cost structure :
The cost structure is important for identifying

key factors for success. To this end, Porter's
value chain model is useful for determining
where value is added and for isolating the
costs.
The cost structure also is helpful for
formulating strategies to develop a
competitive advantage. For example, in some
environments the experience curve effect can
be used to develop a cost advantage over
competitors.
58
Distribution channels
Examining the following aspects of the
distribution system may help with a
market analysis:
1. Existing distribution channels - can be
described by how direct they are to the
customer.
2. Trends and emerging channels - new
channels can offer the opportunity to
develop a competitive advantage.
3. Channel power structure - for example,
in the case of a product having little
brand equity, retailers have negotiating
power over manufacturers
and can
59
Success factors
The key success factors are those
elements that are necessary in order
for the firm to achieve its marketing
objectives. A few examples of such
factors include:
1.
2.
3.
4.
Access to essential unique resources

Ability to achieve economies of scale
Access to distribution channels
Technological progress
It is important to consider that key

success factors may change over time,
By Prof
Srikanth
Venkataswamy progresses
especially as
the
product
60
Market Trends
Changes in the market are important
because they often are the source of
new opportunities and threats.
Moreover, they have the potential to
dramatically affect the market size.
Examples include changes in
economic, social, regulatory, legal,
and political conditions and in
available technology, price
sensitivity, demand for variety, and
level of emphasis on service and
61
SWOT Analysis
62
63
SWOT Analysis:
The SWOT Analysis can be used as matching tool
development strategies. They can be :
1.So strategies :Internal strengths are used to

take advantage of external opportunities.
This is the strategy desired by all
organization.
2.Wo strategic :Internal weakness are
overcome by taking advantage of external
opportunities .
3.St strategic :Internal strategic are used to
avoid external threats.
4.Wt strategic :Internal
weakness are
64
Advantages : SWOT
Analysis
1. An opportunities has no value unless
resources are available to take
advantage of it.SWOT analysis facilities
the finding strategic fit between
external opportunities and internal
resources.
2. It can be used to invest in weakness to
make them competitive. Threats can
also be avoided.
3. It is the essence of strategy formulation.
Alternative strategies can also be
formulated .
4. It can be used for finding a niche to take
advantage of
market
opportunities.
By Prof
Srikanth Venkataswamy
65
Disadvantages : SWOT
Analysis
1. It generates lengthily list of
opportunities, threats, strengths
and weakness.
2. It does not indicate priorities.
3. The same factors can be placed in
two categorizes, for example,
student number is both a
strength and weakness for
University.
66
Strategic implications of Company

Decisions
This strategy bridges the literatures on
competitor analysis and strategic decision
making by
(1) introducing the notion of competitive
decision making into the strategic
decision-making literature and
(2) embedding this notion into a framework
of industry and competitor analysis.
The strategy shows that decision makers
typically have specific "blind spots" when
they consider the contingent decisions of
competitors.
The strategy identifies these blind spots
and discusses how they may explain
persistent, commonly observed
67
phenomena such
as industry overcapacity,
3. Focus on expensive resources

to monitor evaluate & control.
4. Emphasize resources whose
consumption varies
significantly by product and
product type,- look for diversity.
5. Focus on resources whose
demand patterns are
uncorrelated with traditional
allocation measures like direct
labor, processing time, and
68
Types of Business
Decisions
1. Programmed Decisions These are standard decisions
which always follow the same routine. As such, they can be
written down into a series of fixed steps which anyone can
follow. They could even be written as computer program
2. Non-Programmed Decisions. These are non-standard and
non-routine. Each decision is not quite the same as any
previous decision.
3. Strategic Decisions. These affect the long-term direction
of the business eg whether to take over Company A or
Company B
4. Tactical Decisions. These are medium-term decisions
about how to implement strategy eg what kind of marketing
to have, or how many extra staff to recruit
5. Operational Decisions. These are short-term decisions
(also called administrative decisions) about how to
implement the tactics eg which firm to use to make
deliveries.
69
70
The Decision-Making
Process
71
GLOBAL MEGA TRENDS

q
q
q
q
q
q
q
q
q
q
Economic considerations transcending political

considerations
The movement of world wide wide free trade
The power full drive of telecommunications
The relative abundance of natural resources
Competition for reduced taxes
The Asian consumer boom
The advancement of democracy and the spread of free
enterprise
Inflation and interest containment
The triumph of individual
72
ASIAN MEGA TRENDS

From
To
1.
2.
3.
4.
5.
6.
7.
Nation States
Network
Export led
Consumer driven
Western influence
The Asian way
Govt. Controlled
Market driven
Villages
Super cities
Labor intensive
High technology
Male domination
Emergence of
woman
8. West
East
73
Globalisation
Technological
Changes
Market Changes
Liberalisation
Changing environment
of organisations: Principal Constituents
74
75
Environmental Changes and Strategic response of organisation

Portfolio Related Strategic Response
Mergers, Acquisition & Takeovers
Demergers
Diversification
Share Buyback
Divestiture/Disinvestments
Joint Venture
Strategic Alliances/collaborations
Globalisation
Market changes
Liberalisation
Environment
Organisation
Technological Changes
Structure Related strategic
Response
Process Related Strategic

Responses
Quality Strategies
International Quality
Certification Programmes
Just-in-time (JIT)
Inventory
Benchmarking
Building Core Competence
Setting Vision & Mission
Cost & Asset Utilisation
Strategies
Technological Upgradation
& Indigenisation
Information Technology
Research & Development
Marketing Strategies
Project Management
Strategic Business Units

Matrix Structure
Delayering/ Flat Organisation
Structure
76
Porters Five Force Model

Analysis
77
Porters Five Force model
78
79
80

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PESTLE Analysis

By Prof Srikanth Venkataswamy

What is PESTLE analysis?

What is PESTLE analysis?

By Prof Srikanth Venkataswamy

By Prof Srikanth Venkataswamy

The firms External

By Prof Srikanth Venkataswamy

Political , Government and

Fiscal & monetary

Social , Culture, Demographic

By Prof Srikanth Venkataswamy

By Prof Srikanth Venkataswamy

ETOP (Environmental Threat and

Environment analysis results in a

They deal with events, trends,

Using Different Methods,

It provides a clear of which

Designing Profiles: ETOP

By Prof Srikanth Venkataswamy

By Prof Srikanth Venkataswamy

By Prof Srikanth Venkataswamy

Value Chain Analysis:

Value Chain Analysis is one way of

Linking Value Chain Analysis

Steps in Value Chain

Resource Based View of

By Prof Srikanth Venkataswamy

What is the Resource-based View/RBV of

Firms differ in fundamental ways

By Prof Srikanth Venkataswamy

Resource Based View/RBV

By Prof Srikanth Venkataswamy

The Resource-Based View Resources and

Examples of Different Resources

Ford Motors cash

Nikes advertising with

Georgia Pacifics land

Katie Couric as NBCs

By Prof Srikanth Venkataswamy

Can be imitated (but may not be)

By Prof Srikanth Venkataswamy

A resource advantage relative A limitation or deficiency in one

Sources of Distinctive Competence

By Prof Srikanth Venkataswamy

By Prof Srikanth Venkataswamy

By Prof Srikanth Venkataswamy

By Prof Srikanth Venkataswamy

Key functional Engineering:

By Prof Srikanth Venkataswamy

By Prof Srikanth Venkataswamy

Types of Long-Term Objectives:

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Qualities of Long-Term Objectives

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What is the Balanced Scorecard?

The Balanced Scorecard is a set of

By Prof Srikanth Venkataswamy

The Four Perspectives in a Balanced

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The Balanced Scorecard

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By Prof Srikanth Venkataswamy