Assignment 1 SpecificationsPurpose:This assignment aims at ensuring that students have familiarised themselves with the foundational strategy development models and are able to relate them to current...

HI6006—COMPETITIVE STRATEGY
ESSAY – KEY STRATEGY DEVELOPMENT TOOLS
Table of Contents
Introduction    3
Examples of Development Tools used in Strategic Analysis    3
SWOT Analysis    3
Strengths    4
Weaknesses    4
Opportunities    4
Threats    4
PESTLE Analysis    5
P stands for Political factors:    5
E stands for Economic factors:    5
S stands for Social factors:    5
T stands for Technological factors:    5
L stands for Legal factors:    5
E stands for Environmental factors:    5
Porter's Five Forces    6
Competitive Rivalry:    6
Power of the Suppliers:    6
Buyer Power:    6
Threat of Substitution:    7
Entry of New Rivals:    7
Conclusion    7
References    8
Introduction
Business is about not only buying-selling, loss-profit and exchanging values but it also is a complex process of analysing, developing and researching different sectors and database in order to achieve success through gradual progress. Every organisation has their own future vision based on capabilities, abilities and the present state of business. In order to attain the envisaged state every organisation must go through some important process based on few pre-determined set of approach, which we call strategy development tools.
However, the definition of strategy is not fixed for all, but it implies some basic requirements such as planning, analysing and reviewing different databases as per the requirements of further strategy. In addition, strategic planning itself consists of different set of aspects and approach. Be it negative or positive it examines all internal and external environmental impacts on the company and then deals with these effects by chalking out the easiest possible solution.
Examples of Development Tools used in Strategic Analysis
SWOT Analysis
SWOT is an acronym stands for four apparently important elements to identify and equate different measurements for company’s benefit. SWOT stands for strengths, weaknesses, opportunities, and threats. SWOT often described as the tried and true tool of strategic analysis.
Strengths
Strengths are internal, positive attributes that control the fundamental progress of existing advantages. Customer support, teamwork, physical assets and attributes are discussed via Q&A in this segment (Valdez et al. 2017).
Weaknesses
Weaknesses are negative factors that must be substituted from the positive points of strengths. Lack of team bonding, grievances and objections of customers, deficiency of management sector, bad working environment and other issues pushing the company backwards from competitors are part of this segment.
Opportunities
Opportunities are external factors, which must be discussed among everyone. Any ideas or plan that is good for company’s benefit or any further structure for company’s growth is part of this square.
Threats
Threats are external factors that no one has any control over it. It may come from anywhere or anyone. Any possible assumption about company’s safety or revenue damage must be scrutinised carefully.
This can be shown with the help of an example for the use of this tool. If a company wants to settle in a new area then it may perform a SWOT analysis based on different data (Krotkova, Mullakhmetov & Akhmetshin, 2016). Examining and Scanning external and internal economic environment considering mission, vision, stakeholders, structure, existing plans, employee and customer profiles, and question responses and most importantly by implementing those above mentioned tools and techniques (Heslop, Morgan & Tomaney, 2019).
In real life, Walmart’s strengths shall be the advantage of the overcrowded locality or less competitors whereas weaknesses may be lack of capital or lack of stuff or lack of reputation in new place. Opportunities shall be the area growth and increasing market value of that certain product the company will be selling whereas threats could be anything like being unprepared for opening numbers or lack of workers in the certain place or a sudden rivalry.
Furthermore, through SWOT analysis we can observe that Walmart can have higher success potential if they choose huge global...