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ExxonMobil SWOT Analysis
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SWOT Analysis of ExxonMobil – Energy Lives Here

by Shamsul

SWOT Analysis of ExxonMobil

 
ExxonMobil is one of the biggest oil and gas companies in the world. It produces and markets power, natural gas, and oil. It was established in 1999 with an aim to enable America to take a huge part in the production and oil and natural gas exploration. The biggest role in the success of the company is its marketing. They have targeted customers through their effective marketing. Let’s read the SWOT Analysis of ExxonMobil.
 
 
About ExxonMobil:
 
ExxonMobil is a famous US-based multinational oil & gas corporation. The name of the company derived from the merger of two companies such as Exxon and Mobil and Standard Oil Company. It usually takes part in the manufacturing and exploration of natural gas, power generation, petrochemicals, crude oil, natural gas, and oil products. In terms of revenue, the company always falls on the list of the top 5 largest companies in the US. There is no doubt about it that ExxonMobil is one of the big oil companies in the world and the largest refiner of oil.
  
Company Name: ExxonMobil
 
Founders: John D. Rockefeller
 
Founded: Nov 30, 1999
 
Headquarters: Irving, Texas, United States
 
CEO: Darren Woods (Jan 1, 2017-)
 
Type: Oil and Gas
   
 
Sector: Energy and Power
 
Tagline: Energy lives here
 
Unique Selling Proposition: One of the six world’s “supermajor”
 
Customers: Individuals, corporates, and countries looking to meet energy needs.
 
Target Consumers: Companies and people looking for energy, natural gas, and petroleum products.
 
Revenue: 285.6 billion dollars (2021)
 
Net Income: 23 billion dollars (2021)
 
Services and Products by ExxonMobil:
 
  • Power generation
  • Crude oil
  • Petrochemicals
  • Natural gas
  • Oil products
 
Competitors of ExxonMobil:
 
  • TotalEnergies
  • ENGIE
  • Valero Energy
  • Chevron
  • BP
  
SWOT Analysis of ExxonMobil
 
Strengths of ExxonMobil:
 
 
  • Diversified Company:
 
ExxonMobil is such a diversified brand because there are several brands working under its banners such as Speedpass, On the Run, Esso, Coolanol, Mobil, and Exxon. Such diversity gives ExxonMobil a competitive advantage over others and makes it one of the biggest oil and gas corporations in the world.
   
 
  • Brand Reputation and Name:
 
With over 150 years of experience, the ExxonMobil company has developed expertise in its sector. It has a strong foothold in the market and currently distributing oil and gas products to more than 14 countries on different continents such as Africa, Asia, Europe, South America, and North America. The main thing is that ExxonMobil has established a strong reputation and brand name in these markets or countries.
 
  • Vertical Integration:
 
The brand has successfully indulged itself in the exploration of refineries, petroleum, and oil barrels. Moreover, they have divided their business into two categories, production and exploration of oil and marketing its products and brands. So, through vertical integration, they are enjoying the benefits of cost and quality control.
 
 
  • R&D:
 
With every passing day, the company is trying to improve its technology and working structure. They are doing their best to reduce carbon footprint by introducing renewable and eco-friendly options. They are investing heavily in research and development in order to find ways to extract oil and gas with minimum effort. This kind of investment in research and development allows the company to reduce its expenditure and make it one of the most competitive companies.
 
  • Discovering New Markets:
 
The track record of ExxonMobil is pretty good. They have ventured into new markets successfully and taking advantage of their quality and products. Moreover, they have satisfied their customers through their services and products. This has helped the company to create a non-stop stream of revenue. As a result, it is considered as the most reliable and experienced player in the oil and gas sector.
 
  • Variety of Products:
 
The products and services of ExxonMobil are unlimited. Moreover, they have a range of consumer products from diesel fuel to gasoline, motor oil, and more. Indeed, with over 10000 fuel stations, the brand has consistently supplied petroleum products with convenient payment methods. They have also started the ExxonMobil Rewards program for customers in order to get their attention.
 
 
Weaknesses of ExxonMobil | SWOT Analysis of ExxonMobil
 
  • Environmental and Social Impacts:
 
ExxonMobil is one of the biggest culprits for harming and polluting the earth and environment in the eyes of eco-conscious consumers. However, they are taking green initiatives, but they are not enough to reduce their carbon footprint to a major level. This kind of negative reputation is one of the crucial weaknesses of the brand.
 
  • Net Income:
 
According to reports, the company faced a loss of approximately 22 billion dollars in 2020. On the other hand, the financial condition of ExxonMobil is not very stable, which predicts that there is something wrong. Its revenue and net income are declining according to the reports.
 
  • Government Policies and Regulations:
 
The US government and other countries’ governments are imposing strict regulations on oil and gas products. Certainly, this thing has decreased the operational efficiency of ExxonMobil. These regulations and policies are one of the biggest hurdles to its success way.
 
  • Controversies:
 
Controversies like oil leaks in different locations of the world are another major weakness of ExxonMobil. They are accused of damaging the environment and overall sustainability. Such oil leaks are also very dangerous for underwater creatures or marine life. In short, these oil leaks are destroying the ecosystem.
   
 
  • Human Rights Issues:
 
Over the years, ExxonMobil has faced so many legal notices and lawsuits alleging human rights violations, rape, murder, and many other cases. Such lawsuits have been damaging the company’s overall reputation at a global level.
 
 
Opportunities for ExxonMobil | SWOT Analysis of ExxonMobil
 
  • Net-Zero Emission:
 
There are so many opportunities waiting for ExxonMobil. They are planning to implement net-zero emissions by the end of 2030 in Permian Basin operations. If it becomes a reality, then ExxonMobil can improve its image in the eyes of consumers. Moreover, the success of this operation will also enhance ExxonMobil’s profitability.
 
  • Economic Development:
 
Indeed, the rising demand for petroleum products, economic development, and consumer spending patterns are one of the major opportunities for ExxonMobil. Thus, these factors allow the company to expand its market value and capture new consumers.
 
  • Growing Greener Demand:
 
The growing demand for eco-friendly or greener products is also creating several growth opportunities for ExxonMobil. The company can attract government contractors and the government to purchase its products.
 
  • Worldwide Expansion:
 
When it comes to venturing into new markets, no one can beat the level of ExxonMobil. They are entering into new markets and successfully conquering them. As a result, they have already opened their fuel stations and offices in different locations of the world. In short, there are countless opportunities for ExxonMobil in different sectors and countries.
 
  • Demand for Sustainable Development:
 
These days, people like to purchase eco-friendly and sustainable products in order to save the world. However, ExxonMobil is trying its best to develop greener products to get the attention of customers. It has been investing in research and development to develop greener products. Moreover, by developing greener products, the company can multiply its revenue flow.
 
 
Threats to ExxonMobil | SWOT Analysis of ExxonMobil
 
  • Lawsuits:
 
In other markets, there is a chance that ExxonMobil can face lawsuits and legal actions due to the different trade rules and liability laws. The regular fluctuation in standards can also jeopardize the performance of the company in different markets.
 
  • Eco-friendly Products:
 
The company is mainly relying on its oil and gas products. If the culture of sustainable and greener products increases, then it automatically decreases the profitability and sales of ExxonMobil. As a result, the company can experience serious loss, which directly impacts the financial report of ExxonMobil.
 
  • Climate Change:
 
The demand for petroleum and energy products is growing day by day, so it will also increase carbon emissions, which directly results in climate change. ExxonMobil is already under immense pressure to reduce its carbon emission for the betterment of the world. Even though they are finding ways to develop renewable and green energy, but they need huge investments and funds in these sectors, which is currently not possible for the company because its financial condition is also going downwards.
   
 
  • Political Instability:
 
For companies like ExxonMobil, political stability is necessary in the region in which it operates. Overall, there is no political stability in some countries. Moreover, the bad thing is that governments and politics always surround oil and gas production. So, political instability could be fatal for the growth and expansion of ExxonMobil. These factors could pose grave threats to the company in the future.
 
  • Stiff Competition:
 
There are so many big companies and players in the US oil and gas sector. Such increased or stiff competition can hurt the revenue and even sales of ExxonMobil. Competitors of ExxonMobil are continuously hurting its profitability every year by providing better services and products.
 
 
Final Thoughts | SWOT Analysis of ExxonMobil
 
ExxonMobil is taking the ultimate benefit of technology to produce petroleum products with less effort. No one has any doubt that it is one of the leading oil and gas companies with a diversified brand and product range. Explained in short, the company is doing fine in its industry.
 
 
 
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  Avoid SWOT Analysis Mistakes  
 
 
Better TipsBusinessManagementMarketingSWOT & PESTLE Writing
 
5 Common SWOT Analysis Mistakes and How to Avoid Them
 
 by Shamsul  
 
 
 
 
 
 
5 Usual SWOT Analysis Mistakes and How to Evade Them
 
 
 
A SWOT analysis is a helpful strategic planning tool when analyzing the achievability of a project. It is a very easy-to-use tool and powerful enough to identify all the aspects of a business, whether internal or external. However, it is important to use this tool with care and planning because it can also misguide you. Below, we have mentioned five common SWOT analysis mistakes people make. How do you avoid them? Keep reading to find out.
 
 
 
Adding Long Paragraphs or Lists | SWOT Analysis Mistakes
 
As we said, SWOT is a simple and helpful tool for analyzing business ventures. Adding long paragraphs and lists is a common mistake that people make. It usually happens when there is no ambition or specific goal. If you are doing a SWOT analysis with too many people, then it can create trouble. It is vital to know what is important and what’s not.
   
 
 
How to Fix?
 
First, clarify your goal and why you are conducting the SWOT analysis. What is your purpose in doing SWOT analysis? What do you want to achieve? Mention just 4-5 points in each section in order to keep SWOT diagram clear and visible.
 
Over-estimating Strengths | SWOT Analysis Mistakes
 
When conducting a SWOT analysis for your business or company, never over-estimate your strengths. Many people think that having the best employers or working infrastructure is the biggest mistake. In a SWOT, strengths are the first section that you have to evaluate. Find out the real strengths that you think make you superior to others. Then follow the rule and just mention 4-5 points in the section. Overestimating your strengths can damage your process of creating SWOT analysis.
 
 
How to Fix?
 
Carefully identify your strengths and get a fair opinion from others. For example, if you are selling a product, leave it to the customers and see whether they like it.
 
 
Generalizing Aspects | SWOT Analysis Mistakes
 
Generalizing aspects is one of the most dangerous SWOT analysis mistakes. Sometimes, it is hard for companies to develop a useful strategy to reduce a particular weakness. In the end, they have to delay the process, which could be damaging to the company’s growth. By adding general aspects in your SWOT diagram, everyone can see it clearly and can give better suggestions.
   
 
 
How to Fix?
 
Try not to generalize aspects and add specific reasons as an aspect. Try to add quantitative values whenever possible.
 
 
Disregarding Weaknesses | SWOT Analysis Mistakes
 
No one wants to identify and admit their weaknesses. It is even harder after knowing your strengths. Some companies completely overlook their weaknesses. It can be disastrous for you and your project.
 
 
How to Fix?
 
Be honest and realistic when identifying your weaknesses. Encourage your team members to help you identify your weaknesses. If everyone participates, then you can easily find out the accurate and valid weaknesses of your project or company. In this way, you can choose the most important weaknesses.
 
 
Ignoring the Value of PES | SWOT Analysis Mistakes
 
When it comes to opportunities and threats, they are highly challenging to discover. Both factors are external and directly linked with PEST because it is another strategic planning tool that highlights external aspects of a business. So, figuring out external factors can be difficult. In this matter, do not ignore the value of PEST analysis.
 
 
How to Fix?
 
In order to eliminate this mistake, you need to do a complete and proper PEST analysis. Through this analysis, you can identify your opportunities and threats.
   
 
 
Final Thoughts | SWOT Analysis Mistakes
 
We have covered most of the SWOT analysis mistakes in this article. There are so many other mistakes, but the above ones are very common and you should avoid them. If you are doing the above-mentioned mistakes, then you are conducting a faulty SWOT analysis.
 
 
 
 
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  Personal SWOT Analysis  
 
 
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Do Personal SWOT Analysis to Make your Life Actionable, Simple and Clear
 
 by Shamsul  
 
 
 
 
 
 
 
Personal SWOT Analysis
 
 
Being human beings, we all have weaknesses and strengths. By conducting a personal SWOT analysis, you can assess your strengths and mitigate your weaknesses. You can identify the opportunities that help you make a better person. With this analysis, you can also reduce the risk of potential threats you could face. A personal SWOT analysis can help to make your life actionable, simple, and clear. This article will tell you how to conduct a personal SWOT analysis.
 
 
 
Identify Your Strengths:
 
In a personal SWOT analysis, you have to list down all your strengths. By identifying your strengths, you will feel confident and composed. In this section, you can ask the following questions to yourself.
 
 
  • What are the professional qualifications or certifications you have? How do your qualification makes you better than others?
  • What is your expertise? How can you create a difference in any organization with your expertise?
  • What projects have you finished efficiently in the past?
  • Do you have extra skills that make you superior to others?
  • What strengths do you have, according to others?
 
   
 
The factor “superior from others” is really vital in a personal SWOT analysis. For example, if you think your bachelor’s degree or master’s degree in computer science or software is your strength, then you are wrong because everyone else has the same degree.
 
 
Uncover Your Weaknesses:
 
The second step in a personal SWOT analysis is to identify your weaknesses. The main purpose of uncovering your weaknesses is to fix them in order to convert them into strengths. You can only improve yourself when you identify your weaknesses. During a project review or an interview, this part will help you a lot. Ask yourself the following questions when identifying your weaknesses.
 
 
  • Do you have the essential skills needed to stand out in any project or work?
  • What are your bad habits? For example, bad communication, getting late, drinking, etc.
  • What areas of your personality need improvement?
  • What are your weaknesses according to your family and friends?
 
 
When answering the above questions, be realistic and honest. It is necessary if you want to create a fair self-assessment SWOT analysis. Try to convert your weaknesses into strengths to enhance your personality.
 
 
Find Opportunities:
 
For people, opportunities come in various forms and shapes. It is crucial to exploit chances or opportunities to a competitive edge over others. Here are some important things you must consider,
   
 
 
  • How you can take advantage of opportunities present in your industry?
  • How you can exploit new technologies for improving your working pattern and efficiency?
  • Is there a new job opportunity that matches with your CV or qualifications?
  • How new job or position will benefit your career?
  • Can learning new skills give a competitive edge?
 
 
There are so many other questions that you can ask yourself. If there is an opportunity to match your skills, then you must avail yourself of it after checking its possible outcomes. In short, one must consider advantages and disadvantages before availing any job offer.
 
 
Be Aware of Threats:
 
When performing a personal SWOT analysis, you can consider yourself as a product or a company. It helps you identify yourself better against your competitors. In this way, you can make this part slightly easier. Here are some questions you can ask in this section yourself,
 
   
 
  • Are your colleagues doing a better performance than you? Are you and your colleagues racing for the same job or promotion?
  • Can the disruption of the latest technology put your job or performance in danger?
  • Are your traits impacting your professional career?
  • What hurdles or difficult steps stop you from completing your targets?
 
 
The only purpose of unearthing threats is to eliminate them from your life.
 
 
 
What is a SWOT Analysis?
 
Basically, SWOT is the short form of strengths, weaknesses, opportunities, and threats. It is a reliable and useful strategic planning tool that is widely used across industries, businesses, and projects. Senior executives and managers use this tool before making major decisions for the benefit of their company. SWOT can be applied to a wide range of companies, and things like to do self-assessments.
 
 
When to Do a Personal SWOT Analysis?
 
There is no specific time needed to do a personal SWOT analysis. You can create a personal SWOT analysis anytime, according to your time and comfort. The following instances are important for doing a personal SWOT analysis,
 
  • Before going to a job interview, focus on your strengths and reduce your weaknesses. It will also assist in developing the CV. You can easily modify your CV according to the job requirement.
  • If you are trying to avail a promotion, you can perform a personal SWOT analysis to make yourself better than the other candidates.
  • If you have decided to switch your career, you can take the help of a personal SWOT analysis as it helps you understand the upcoming opportunities and possible threats.
 
 
 
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What, Why, and How to Use SWOT Analysis Effectively
 
 by Shamsul  
 
 
 
 
 
 
What, Why, and How to Use SWOT Analysis Effectively
 
 
SWOT analysis is a proven strategic planning tool used across businesses and companies to uncover strengths, weaknesses, opportunities, and threats. The main purpose of SWOT is to measure business projects, but it also helps to identify internal and external factors of the business environment. Let’s look at some important factors: how, what, and why to use SWOT analysis.
 
 
Why use SWOT Analysis?
 
If you are wondering why use SWOT when there are hundreds of tools available for analyzing business ventures, then the following reasons will certainly satisfy you.
 
  • Albert Humphrey first conducted SWOT analysis in 1960. Since then, it has proven a useful strategic planning tool.
  • The biggest advantage of this tool is that it is very simple to implement or use. Anyone can conduct SWOT analysis with a little effort.
  • SWOT analysis can be used to identify businesses, companies, competitors, and places. It can also be used for conducting self-assessments.
  • It helps to assess both internal and external business factors of your company.
 
 
There are tons of other advantages of using SWOT analysis, but the above methods are one of the most important benefits.
   
 
 
How to use SWOT Analysis?
 
Now, you understand why and what it’s the right time to use SWOT analysis proficiently.
 
  • Creating a SWOT Diagram:
 
The purpose of creating a SWOT diagram is to list down all the important factors in each section of SWOT. It provides a clear idea about your business or project. In this way, you can look at each and every factor easily. Moreover, there are various SWOT diagrams that you can choose.
 
  • Adding Data to SWOT Diagrams:
 
First of all, add internal factors such as strengths and weaknesses into a SWOT diagram. It is easy to assess both factors, depending on your organization or business type. In a business environment, a SWOT analysis could be like,
 
  • Human Resources – Skill level of your employees, language barriers, size of your organization, geographical distribution etc.
  • Financial Condition – Seasonal income, capital investment, profit, and income.
  • Distribution – Supply chain productivity, manufacturing abilities, partners, and distributors.
  • Operations – Efficiency of process, software efficiency, cost of implementing software or technology.
 
Strengths and weaknesses change with time. For example, Apple’s biggest strength is its loyal users, while Samsung’s biggest strength is its low production cost.
   
 
It is slightly difficult to add external factors like opportunities and threats into a SWOT diagram. To assess external factors of SWOT, you can take the help of another useful strategic planning tool called PEST. It is a useful method and stands for political, economic, social, and technological factors. If you add legal and environmental factors to PEST, then it becomes PESTLE.
 
 
PEST Or PESTLE Analysis
 
PEST analysis largely focuses on the external business environment of a business. It is comparatively linked with the external part of SWOT analysis. Below, we have mentioned all the factors PESTLE in detail.
 
   
 
  • Political – Trade rules, corruption level, political instability, government hold, export limitations, and more.
  • Economic – Interest rates, wealth distribution, income level or people, exchange rates, and more.
  • Social – Cultural trends, lifestyle, demographic behaviors, education level, religious harmony, and more.
  • Technological – Basic technology infrastructure, the skill level of employees, software privacy, and internet penetration.
  • Legal – Labor laws, anti-piracy laws, tax regulations, and copyright.
  • Environmental – Climate change, green products, recycling, and weather patterns.
 
 
It is not necessary to apply all the factors to every company. They vary with every company, depending on their business.
 
 
Who needs SWOT Analysis?
 
Decision-makers, managers, and marketers can use SWOT analysis for the betterment of their businesses. However, It can be applied in various ventures and scenarios. If you are a big business, then you should create a SWOT analysis with your competent team members. Collaboration is the key in this matter.
 
 
Other Uses of SWOT Analysis:
 
We personally think that SWOT is still an underrated tool. But, it is really useful to evaluate the whole business venture. You can also conduct a self-assessment with the help of a SWOT analysis. This strategic planning tool is widely used in businesses and marketing. It helps the companies to take a competitive edge over competitors.
   
 
 
 
 
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When to Use SWOT and PESTLE Analysis?
 
 by Shamsul  
 
 
 
 
 
 
When to Use SWOT and PESTLE Analysis?
 
 
When starting or running a business, project, or company, it is crucial to know about those factors that can impact them. Internal and external factors are highly vital in this process. There is no shortage of strategic planning tools. From SWOT to PESTLE, you can use any tool to learn about your business. However, both these tools are used frequently for strategy planning. When to use SWOT and PESTLE Analysis? Here is our brief answer for our readers.
 
 
What is SWOT?
 
SWOT stands for strengths, weaknesses, opportunities, and threats.
 
Strengths:
 
It represents those advantages that you have over other companies or businesses.
 
 
Weaknesses:
 
It represents disadvantages of your company when compared with others.
 
 
Opportunities:
 
This represents external trends that you can utilize to leverage your company.
   
 
 
Threats:
 
It represents external negative points that can create problems for your business. They affect your business negatively.
 
In SWOT, weaknesses are also considered liabilities. By conducting SWOT analysis, you can find out those internal and external factors that can work for or against you. The biggest advantage of SWOT is that it also highlights external factors of your business or project, which could create a huge difference in the failure or success of your business. It is very easy to create and conduct a SWOT analysis.
 
By exploiting all the resources and information, you can conduct SWOT analysis and run your business successfully. It helps to uncover specific problems that you can mitigate easily. It would be great for you and your business to use a SWOT analysis with your team members. In this regard, brainstorming could help you as it allows you to gather relevant factors for each section of SWOT analysis.
 
 
SWOT and PESTLE Analysis
 
What is PESTLE?
 
Before starting or launching a new business or project, you should conduct thorough market research. If you find it a difficult task, then PESTLE analysis is here to help you.
 
 
Political:
 
Political factors like regulations, the influence of a political party, global issues, laws, and legislations have huge impacts on your company. They are very serious factors that you must take into consideration.
 
   
 
Economic:
 
Economic factors like stock markets, customer confidence, taxes, inflation, and interest rates are crucial to evaluate.
 
 
Social:
 
Any changes in purchasing trends, lifestyle, norms, publicity, media, events, and advertising fall in this category.
 
 
Technological:
 
The impact of the latest technology on your business, existing technology infrastructure, manufacturing, communications, licensing, and other similar factors are technological factors.
 
 
Legal:
 
Any potential changes in legislation, foreign trade policy, or everything in between can affect your company’s business performance.
   
 
 
Environmental:
 
Whether local or global, environmental issues like climate change, waste management, carbon emission, and pollution are considered as environmental factors.
 
 
Unlike SWOT analysis, PESTLE analysis mainly focuses on external businesses that are outside of your control. The above-mentioned factors of PESTLE affect the business and can decrease your business growth. However, it also aids in finding new growth opportunities.
 
 
Comparison Between SWOT and PESTLE Analysis:
 
There is no doubt about it that both methods are widely used for strategic planning. They are highly useful for giving complete insight to run your business efficiently. So, comparing them will not be a great way.
 
There is one disadvantage of PESTLE. It doesn’t analyze the internal factors of your project. It just only analyses the external factors of your business. So, if you want to fully analyze your business, you must take the help of SWOT analysis.
 
On the other hand, SWOT analysis equally analyses your business’s internal and external factors. Strengths and weaknesses are internal factors, whereas opportunities and threats are external factors in a SWOT analysis. So, it provides a deep and detailed analysis of your company.
   
 
 
Working as a Team for the Success of a Business:
 
If you are conducting a SWOT or PESTLE analysis, but your team is not in the same room, then it would be difficult to collect information and brainstorm. There is a chance that you will miss important factors. This thing is not ideal for your project or business. It is imperative to work as a unit or team and collaborate with each other. The leader of the project can draw PESTLE or SWOT diagram to make things easier. Collaborate with relevant departments or people to get the right and correct information. In this way, you can reduce the chance of error.
 
 
 
Need Help or Advice in Content Management:
 
Do you want more advice? Do you have good practices to share? Express yourself in the comments.
 
Moreover, if you want any help to write content to drive more traffic and boost conversions, get in touch through Contact our team?
 
Do you want any help writing quality content, driving more traffic to your website, and boosting conversions? You can contact me through my Freelancer.com profile also. I always prefer to work through Freelancer.com for smooth functioning. Here you pay safely and securely.
 
 
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SWOT or PESTLE Analysis | Which is Useful for Business
 
 by Shamsul  
 
 
 
 
 
 
 
SWOT or PESTLE Analysis | Which is Useful for Business
 
 
A SWOT or PESTLE analysis is useful for both new startups and established businesses to know in which direction your business is going or will go. They are also helpful in knowing whether your business plan is feasible or not. A SWOT or PESTLE analysis can also help you make suitable decisions for your business and identify your goal’s advantages and disadvantages. Both analyses can be applied to both small and big businesses or projects to uncover the potential failure or success areas. Is it essential to conduct a SWOT or PESTLE analysis? Honestly speaking, it depends on your business and business operations type.
 
This article will cover some essential factors about a SWOT or PESTLE analysis and how they can be helpful for your business and ambition.
 
 
What is the Difference Between a SWOT or PESTLE Analysis?
 
A SWOT analysis mainly focuses on your business environment’s internal actions or operations. A PESTLE analysis mainly focuses on the external processes of your business environment. You can manage your strengths, weaknesses, opportunities, and threats through SWOT analysis, while PESTLE political, economic, social, technological, legal, and environmental factors are outside your authority.
 
 
What is a SWOT Analysis?
 
A SWOT analysis mainly highlights four important factors,
 
  1. Strengths – What are your business strengths or what do you have better than your competitors?
  2. Weaknesses – What are your weaknesses or where do you have to make improvements?
  3. Opportunities – What are your strengths or what factors you can exploit to enhance your business?
  4. Weaknesses – What are your weaknesses or what factors could hurt your business?
 
 
Strengths – SWOT Analysis
 
  1. What are the important factors that your business is doing better than others?
  2. What are the business advantages do you have over your competitors?
  3. What unique resources do you have over others?
  4. What characteristics or features separate you from businesses?
  5. What is your USP (Unique Selling Point)?
  6. Do you have innovative technology, investment, intellectual property, or capital?
  7. What major factors make you the right man for your business?
 
   
 
 
Weaknesses – SWOT Analysis
 
  1. What areas are your weaker points or does your business need improvement?
  2. Are your rival companies or business better than you at different things?
  3. What potential resources do you need?
  4. What are the factors that you should avoid?
  5. What products or services would make you a loser?
  6. Are you fulfilling the needs of your target audience?
 
 
 
Opportunities – SWOT Analysis
 
  1. What markets can give your business a much-needed boost?
  2. How huge is your total addressable market (TAM)?
  3. What are the newest market trends you should exploit to leverage your business?
  4. What technologies can give your company an upper hand over others?
  5. Who are your major competitors?
  6. Does your business need a special boost?
 
 
 
 
Threats – SWOT Analysis
 
  1. Find out the emerging companies that can hurt your business.
  2. Does your competitor have the potential to penetrate the same market you are operating in?
  3. Find out the negative social trends that can impact your business.
  4. What hurdles can you face?
  5. What is your current financial condition?
  6. Could your weaknesses turn into a big threat?
 
   
 
Key Takeaways – SWOT Analysis
 
A SWOT is one of the most useful processes that help to identify your business strengths, weaknesses, opportunities, and threats. It is a simple method to analyze the internal business factors. By utilizing SWOT, you can build effective strategies for your business that will help you enhance your strengths, reduce weaknesses, increase your opportunities, and terminate your threats.
 
 
What is PESTLE analysis?
 
A PESTLE analysis mainly highlights six factors that are outside of your business.
 
  1. Political – How can/will the present political condition of your country impact your company? Will a specific political party in your country impact your business growth?
  2. Economic – Will financial problems and economic condition of your country or the country in which you are operating affect your company or business?
  3. Social – What social trends, cultures, demographics, lifestyles, or opinions could hurt your business growth?
  4. Technological – Could the latest technology disrupt your whole business operations? Could your current technological infrastructure work for you?
  5. Legal – Could new laws, policies, rules, or regulations affect your work?
  6. Environmental – Could environmental issues like pollution, waste management, and climate change impact your manufacturing ability?
 
 
Political – PESTLE Analysis
 
  1. Which strategies of government assistance or impede your business?
  2. What initiatives, grants, or tax refunds that you could take advantage of?
  3. Is political instability a big threat for your business?
  4. Will the international trade policy favorable for you?
  5. What will be the impact of current tax legislation on your business?
  6. Are climate laws posed any threat for your business?
 
 
Economic – PESTLE Analysis
 
  1. Is the current financial situation a big concern for you?
  2. What is the exchange rate or how it could impact you?
  3. Will interest rates impact your economic status?
  4. What is disposable income? How it could affect you and your target audience?
  5. Can your loyal customers have enough money to buy your products?
  6. How change in tax rules can hurt your performance?
 
 
 
Social – PESTLE Analysis
 
  1. What is your target audience or what demographic are you directing?
  2. What is the population growth rate in the country?
  3. What are the latest social trends people are following?
  4. What is the purchasing power of your target customers?
  5. What message do you want to convey to your audience?
  6. What are the similar businesses and competitors affecting your growth?
 
 
   
 
Technological – PESTLE Analysis
 
  1. What kind of IT infrastructure do you require to finish the project?
  2. Do the latest innovations in internet connectivity hinder or benefit you?
  3. Will automation or artificial intelligence impact your business?
  4. What type of security infrastructure do you want to protect your processes or IP?
  5. Is it possible to counterfeit your products or technology?
 
 
 
Legal – PESTLE Analysis
 
  1. Does the legal framework of your country similar to the other countries?
  2. What are the safety standards you have to follow?
  3. Is it possible to patent your product?
  4. Could you protect your unique selling proposition by copyrighting your product, logo, or brand?
  5. What labor laws can impact your operations?
  6. Is it essential to follow safety and health laws?
 
 
Environmental – PESTLE Analysis
 
  1. What is your company’s carbon emission rate?
  2. Can manufacturing be finished proficiently?
  3. How can climate change affect your business?
  4. Should you promote sustainability and positive business ethics?
  5. Can you counterbalance your carbon footprint?
  6. How can you reduce emission rate by increasing sustainability?
  7. Will the shortage of raw materials affect your business?
 
 
Key Takeaways – PESTLE Analysis
 
A PESTLE analysis helps to analyze or identify the external business environment. It is a great method to enhance your competency by evaluating all the factors. In short, a company can take a competitive advantage over others by conducting this analysis.
 
 
Final Thoughts:
 
Both SWOT and PESTLE analysis are somehow interlinked. If you are conducting a SWOT analysis, you should pay attention to the PESTLE. Opportunities and threats are external factors in a SWOT analysis, and PESTLE helps identify external business factors. But, both methods help build a solid strategy. It is a useful strategic tool for marketing, businesses or sales.
 
Conduct a SWOT or PESTLE analysis to understand the market dynamics, demographic trends, and your competitors. In short, you can have complete insight into the market and customers. It is important to be meticulous and realistic when conducting a SWOT or PESTLE analysis.
   
 
 
 
 
Need Help or Advice in Content Management:
 
Do you want more advice? Do you have good practices to share? Express yourself in the comments.
 
Moreover, if you want any help to write content to drive more traffic and boost conversions, get in touch through Contact our team?
 
Do you want any help writing quality content, driving more traffic to your website, and boosting conversions? You can contact me through my Freelancer.com profile also. I always prefer to work through Freelancer.com for smooth functioning. Here you pay safely and securely.
 
 
Read More:
 
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SMART GOALS FOR SUCCESS TO SET TODAY
 
TOP 20 TRENDING TECHNOLOGY TO EARN A GREAT FORTUNE
 
 
 
 
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  SMART Goals  
 
 
Better TipsBusinessManagementMarketingPersonal GrowthTrendingWriting
 
How to Achieve More by Setting SMART Goals
 
 by Shamsul  
 
 
 
 
 
 
How to Achieve More by Setting SMART Goals
 
 
If you want to be a successful person, then you need to define your goals. Every student and business professional knows this. Still, we can’t achieve some goals in everyday life. It creates a massive difference in how you define and set your goals. Set those goals that are actionable, motivating and favorable for the business. SMART goals contain all these factors.
 
 
 
Why Setting the Right Goal is Necessary?
 
Sometimes, we set unrealistic and indistinct goals. Sometimes, we set no deadline for a goal, or the deadline is too tight. You make so many errors when setting goals. However, you need to set goals in your life if you want to achieve something more significant. Goals keep you on the right track. Whether you are a worker, student, or anything in between, you can’t achieve status in life without goals. They keep you motivated and enhance your skill level. In some cases, setting goals won’t be so effective. On the basis of five particular criteria that are “SMART,” Locke and Latham showed that you could achieve the best results by following SMART.
 
 
 
What are SMART Goals?
 
SMART is the acronym for Specific, Measurable, Attractive, Realistic, and Timed. It is also used in alternative terms but with the same meaning.
 
Specific:
 
As the name depicts, you need to set your goals precisely and specifically. Set your goals accordingly and also mention your desired outcomes. Set positive or constructive goals like ‘I want to lose weight,’ I want to make my company more profitable, etc. There should be no room for any explanation.
   
 
Measurable:
 
Whether qualitative or quantitative, your goals can consist of anything. It is necessary to describe your goals clearly so that they can be tested. Find important measurable such as weekly or monthly sales, revenues, or the number of conversions.
 
Attractive:
 
If your team is working together, then set an attractive goal, so everyone feels engaged. Achieving something bigger is not bad, but do not set the goal too high. Unrealistic goals can kill motivation or passion. You need to check the availability of time and available resources in order to define realistic goals.
 
Realistic:
 
It is the main thing that you should keep in mind. If you want that your team members accept responsibility, then set realistic and achievable goals. Without commitment and motivation, you can’t achieve even a smaller goal.
 
Timed:
 
Set the right and clear deadline so that employees feel motivated. Setting a specific deadline for each goal will increase the chances of success. Follow up on the progress on a daily, weekly, or monthly basis. This thing will give a boost to your employees.
  
Sample Application for SMART Goals:
 
It looks very overwhelming to set a specific goal. You need to go through so many variables to determine your goal. It requires so much mental effort. But, regular practice will make things easier. The following examples will you how you can set goals by using SMART goals,
 
 
1- If you are not satisfied with your job, then you can set a goal like that “I want to change my job”.
   
 
2- If your company is not generating good revenue, you can set a goal “we need to increase our profits”.
 
 
Advantages and Disadvantages of SMART Goals:
 
Every technique or method has its own benefits and drawbacks. The same goes for SMART goals. Here we have evaluated some major advantages and disadvantages of SMART goals,
 
 
Advantages:
 
  • Helps to Achieve Goals:
 
When you decide to go on a trip, you know what you need to pack in your bag. So, SMART goals help to achieve goals better and easier. In short, they are a good starting point.
 
  • Helps to Clear Priorities:
 
By setting your goals, you can easily understand your priorities. When you have a clear picture of your priorities, you and your team members feel motivated.
 
  • Enhances the Success Rate:
 
The chance of success increases to almost 50 percent when you have specific goals and clear priorities. So you can say that SMART goals play a huge role in your success.
   
 
 
Disadvantages:
 
  • Encourage Mediocrity:
 
You need to set realistic goals when it comes to SMART goals. As a result, you can pursue your visionary goals.
 
  • Hinder Motivation:
 
If your goals are not ambitious, they will kill your motivation. It is a serious disadvantage of SMART goals.
 
  • Puts Pressure:
 
You have to set a specific deadline for each goal that puts pressure. Some people can’t handle this pressure and it is disastrous for them. It proves counterproductive that is not good for you and your business. 
 
 
Is Smart Goals a Suitable Method?
 
Goals drive your business. It depends on how you set your goals. SMART is a proven tool for achieving more. You can achieve any milestone with the help of this tool. You can boost success chances with this particular technique. However, each method has its own benefits and drawbacks. Do not set too tight deadlines because they put unnecessary pressure and decrease productivity. You should stay away from such things in order to avoid counterproductive results.
 
Moreover, if you are not comfortable with SMART goals, you can go to alternatives. You can try the KRAFT Model, the ALPEN method, or the WOOP method. They are proven techniques for improving productivity and gaining desired results.
 
 
 
Need Help or Advice in Content Management:
 
Do you want more advice? Do you have good practices to share? Express yourself in the comments.
   
 
Moreover, if you want any help to write content to drive more traffic and boost conversions, get in touch through Contact our team?
 
Do you want any help writing quality content, driving more traffic to your website, and boosting conversions? You can contact me through my Freelancer.com profile also. I always prefer to work through Freelancer.com for smooth functioning. Here you pay safely and securely.
 
 
Read More:
 
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SMART GOALS FOR SUCCESS TO SET TODAY
 
TOP 20 TRENDING TECHNOLOGY TO EARN A GREAT FORTUNE
 
 
 
 
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  Money Laundering  
 
 
Better TipsBiographyBusinessManagementMarketingScholarlyTrendingWriting
 
How to Mitigate Money Laundering Risks?
 
 by Shamsul  
 
 
 
 
 
 
 
How to Mitigate Money Laundering Risks?
 
 
Terrorists and criminals utilize the way of money laundering to hide their illegally obtained money. The money-laundering system exploits the financial system and businesses for its benefit. It also focuses and targets those companies and financial institutions involved in this practice. The FATF (Financial Action Task Force) has successfully revised several changes to make it difficult for the culprits. Want to know how to mitigate money laundering risks? Read on to learn some useful ways that can reduce the risk of money laundering.
 
 
Identify the Risks:
 
First of all, you need to evaluate the outcomes of money laundering. There are countless risks associated with this illegal activity. You try to must the following factors in mind,
 
  • It is really difficult for any person to understand the business structure of a foundation, trust, or company due to its complex system. That’s why these companies or trusts utilized money laundering methods in order to hide the source of illicitly obtained money and protect the identity of their owners.
 
 
  • They show their assets from a country in developed or developing countries.
 
 
  • Recent transactions are completed by a trust or foundation that highlights participation in fraudulent or illegal activities.
 
 
   
 
In order to keep your firm away from money laundering, you should follow anti-money laundering laws and regulations imposed by your country. It is also crucial to make effective policies that can help to identify the potential outcomes of corruption.
 
 
Follow a Safety List:
 
 
  • Monitoring:
 
It is imperative to contact the owners and contracting parties to monitor whether they can be trusted or not. This step is referred to as screening or monitoring.
 
  • KYC:
 
Before doing business with other parties, confirm their verified contact information. If they seem slightly suspicious, then conduct annual meetings, reassess their information, and make regular contact to identify their authenticity.
 
  • Virtual Assets:
 
You must check your partner’s technical means if they are using virtual assets or wallets. You should also check their profile and transaction history if they cross any limits.
 
 
Anti-Money Laundering Program:
 
In order to mitigate the risks of money laundering, you can utilize the expertise of financial professionals. There are numerous anti-money laundering programs that you can use to monitor your business and financial dealings. Make sure that your business operations should be aligned with the anti-corruption program.
   
 
Risk-based Due Diligence:
 
If you are sensing some kind of risk, then conducting risk-based due diligence is important. It encompasses associates, clients, and third parties. On the other hand, you must monitor new laws and regulations and ensure that your business activities comply with these laws or regulations.
 
Adopting Technology:
 
Nowadays, the way of doing business has changed completely with the adoption of new technology. But, it also increases the risk of online fraud and cybercrime. That’s why you must have the latest technological tools to revoke any kind of financial risk. According to NICE Actimize, you must invest in a robust and proper system that can monitor anti-money laundering activities on various scales. Some useful tools can monitor trends, transactions, and behaviors.
 
Organizing Workshops:
 
Online frauds and cybercrime are complicated to understand due to their complex nature. It would help inform your workers or employees about how your company can be misused for illegal activities, including money laundering. You should give them proper training so that they can tackle any risk or danger if they find something suspicious. Taking immediate action can be helpful in this regard.
 
Organizing Internal Assessments:
 
Many anti-money laundering laws and regulations suggest conducting internal assessments more often. If you are using an anti-corruption program, then it should highlight potential risks or outcomes. But, if your data is too huge, it is hard to mitigate risk easily. Conducting a complete reassessment is critical in this situation. To cope with these issues, you must build a qualified financial crime team. This team can evaluate potential risks and collect data by using available tools and resources. You can’t mitigate the risk of money laundering without the help of a financial crime team.
 
Identifying Transactions:
 
It is crucial to document every transaction to avoid the risk of any financial problem in the future. For this purpose, you need to identify every transaction made through your account. If you found something dubious in payments, then you should conduct a risk assessment ASAP.
   
 
Fraudulent Trusts:
 
If you have recognized a company with a high anti-money laundering risk, you must have enough suitable tools to minimize the risks. For this reason, you can conduct a matter risk assessment with the client to highlight the potential frauds. After this, you have to confirm their funding resources with enough research and documentation.
 
Staying In Contact:
 
You can contact your client through video calls or in-person meetings. If you do not contact your clients, then it can amplify the risk of fraud. So, staying in contact with the client is really important.
 
Promoting Anti-Money Laundering Culture:
 
It is the responsibility of managers and workers to promote an anti-money laundering culture and awareness. The workers or managers of an organization can identify the risk of fraudulent activities better. They can monitor potential risks better and provide good solutions to mitigate them. They can also help implement effective solutions to minimize the risk.
 
Revising Your Policy:
 
International and national laws and regulations must be revised every year because money launders can easily find loopholes in the financial system. They use better techniques to launder money. By changing the regulations, you can increase trouble for them. On the other hand, you must revise your anti-money laundering policy to comply with the revised laws or regulations.
 
The effect of corruption on the economy has devastating consequences. It strengthens corruption and weakens the financial system. Millions and billions are laundered every year. Policymakers and governments are revising anti-corruption programs and regulations to mitigate this. Investors and financial players like to invest in businesses in a robust anti-corruption laundering ecosystem.
 
This is our detailed guide on how to mitigate the risk of money laundering. There are many other ways to control money laundering, but the above methods are also very helpful. You must do proper research and analysis to identify online crimes and fraudulent practices.
   
 
 
 
Need Help or Advice in Content Management:
 
Do you want more advice? Do you have good practices to share? Express yourself in the comments.
 
Moreover, if you want any help to write content to drive more traffic and boost conversions, get in touch through Contact our team?
 
Do you want any help writing quality content, driving more traffic to your website, and boosting conversions? You can contact me through my Freelancer.com profile also. I always prefer to work through Freelancer.com for smooth functioning. Here you pay safely and securely.
 
 
Read More:
 
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  Block Issue in Writing  
 
 
BusinessPersonal GrowthScholarlyTrendingWriting
 
3 Simple Tips for Curing Writer’s Block Issue
 
 by Shamsul  
 
 
 
 
 
 
3 Simple Tips for Curing Writer’s Block Issue
 
 
Whether you are a pro or novice writer, you can face the issue of writer’s block. It seems a big problem, but you can cure it with some little help. Writer’s block is really harmful to your creativity and brainstorming power. It blocks new ideas and practicality in your writing. In short, it is a very frustrating thing and we are going to mention some tips for curing writer’s block issues. The following three tips will help you to refocus and enhance your creativity flow.
 
 
1- Take a Break | Writer’s Block Issue
 
If you are suffering from writer’s block, you feel demotivated. You feel pressure while writing something. Whatever the reason may be, you must take a break from your writing schedule. In this scenario, if you forcefully push yourself to write, then it will decrease your productivity and increase your frustration level. It is crucial to know when to take a break. During this break, you can enjoy doing something enjoyable, hanging out with friends, or doing whatever you want. This will give you some peace of mind and enhance your energy. It will alleviate your stress and refocus your brain. As a result, you will start getting new ideas instantly. Giving your body some rest is also crucial in this matter. If you deal with body pain or posture problems, then fix them first. Sever backaches can dull your energy and motivation.
   
 
 
2- Get Outside | Writer’s Block Issue
 
If you have decided to take a break from writing, then you can spend your day outside. It is a great way to relax your mind and body. The fresh air and weather can help to relieve your stress or pain. It is crucial to go on a daily jog or walk. This will enhance your creativity level and keeps you motivated. If you feel stressed while writing, take a break and step out for just a moment. Spending some time outside will help to cure writer’s block and keep your mind active and sharp. It is a simple way to fix writer’s block in the initial stage.
 
 
3- Call a Friend | Writer’s Block Issue
 
If you are spending too much time at your computer or desk, then there is a maximum chance that you will face writer’s block issues. To fix this issue, we recommend you call a friend. You can share your problem with your friend. As a result, you will feel relieved and less stressed. You can also chat with your best friend on any fun topic to reduce your mental pressure. You can also discuss your writer’s block problem with your friend. There is a chance that your friend can give some helpful suggestions or advice to cure this issue. When you talk with your friend about anything other than work, your mind will feel happy. So, you can get new ideas for writing your project. It is one of the simplest ways to cure writer’s block issue problems without any effort.
   
 
 
 
Need Help or Advice in Content Management:
 
Do you want more advice? Do you have good practices to share? Express yourself in the comments.
 
Moreover, if you want any help to write content to drive more traffic and boost conversions, get in touch through Contact our team?
   
 
Do you want any help writing quality content, driving more traffic to your website, and boosting conversions? You can contact me through my Freelancer.com profile also. I always prefer to work through Freelancer.com for smooth functioning. Here you pay safely and securely.
 
 
Read More:
 
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  Get Essay Help  
 
 
Better TipsBusinessManagementPersonal GrowthTrendingWriting
 
Is It Safe to Get Essay Help?
 
 by Shamsul  
 
 
 
 
 
 
Is It Safe to Get Essay Help?
 
 
A new trend is evolving in writing common academic papers in the higher education system. It is a fact that the tuition fee in secondary schools and universities is mounting day by day. Due to this reason, students choose to work to manage these mounting expenditures. They didn’t find time to study in such a busy routine. More than 18 percent of learners admit to purchasing academic papers. According to some teachers, more than 50 to 60 percent of high educational establishment students use several help services to fulfill their educational requirements. Well, is it safe to get essay help? We are going to uncover some facts that tell whether it is safe to get essay help or not.
 
 
When is it Safe to Get Essay Help?
 
Several politicians, actors, athletes, and famous people prefer to hire freelancers or ghostwriters to write their memoirs. It is very common these days to buy essays. Being a student, you must evaluate the effects of utilizing academic paper writing services. If you hire essay help for revising or proofreading services, there is nothing wrong with it. If you are unsure about your writing capability, then you can hire an essay helper. On the other hand, you can also utilize a paper writing service to buy an essay. After purchasing an essay, you can also make some changes in it to make it academically ethical.
   
 
 
When is it Unsafe to Get Essay Help?
 
It is worth noting that most essay writing services are reliable and work for the betterment of students. But, in some scenarios essay writers are not helpful. We can prove it with the following examples,
 
 
Failure to follow the Terms of the Contract:
 
It is a common practice that some essay writing services re-sells papers that have already been sent to a buyer. They also re-sell your paper with little modification to other clients. It is often occurring and really dangerous for the essay owner. That’s why some essay writing services may not be worth your time and money.
 
  • No Money-Back Guarantee, Support, and Poor Customer Service:
 
Some essay writing services may not lack in providing customer service. It is one of the most disappointing experiences for learners or students from essay helpers. They usually do not deliver your essay on time, do not respond timely, and do not allow changes if you are not satisfied with their work. These are some common factors that make these essay writing services highly unreliable.
   
 
  • Paid and False Advertising:
 
Some websites and YouTube’s paid influencers promote students to address a particular essay helper. According to several surveys, various articles, websites, and videos promote specific companies. Some of them are authentic, but some are overrated. But, becoming an essay helper has some advantages too. They offer customers plagiarism-free work, proofreading, and ghostwriting services at reasonable prices. They deliver your work in time and give you complete peace of mind.
 
 
 
Need Help or Advice in Content Management:
 
Do you want more advice? Do you have good practices to share? Express yourself in the comments.
   
 
Moreover, if you want any help to write content to drive more traffic and boost conversions, get in touch through Contact our team?
 
Do you want any help writing quality content, driving more traffic to your website, and boosting conversions? You can contact me through my Freelancer.com profile also. I always prefer to work through Freelancer.com for smooth functioning. Here you pay safely and securely.
 
 
Read More:
 
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