Global Strategy: Analysis of Evaluation Tools

Running head: GLOBAL STRATEGY: ANALYIS OF EVALUATION TOOLS
GLOBAL STRATEGY: ANALYIS OF EVALUATION TOOLS
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1GLOBAL STRATEGY: ANALYIS OF EVALUATION TOOLS
Introduction
The study is focused towards understanding the best tools that can be utilized for
analyzing the global market situations. The effectiveness with which these tools can be used to
subsequently form strategies to tackle the global market challenges are also analyzed through the
study. Three large global markets have been considered as the context of the study. The global
countries or regions that are considered are USA, China and Europe. The industry that has been
considered is household furniture industry. The political, environmental, technological, socio-
cultural and environmental aspects that affect the market of these countries and regions are
different. The tools that will be most effective towards analyzing the factors are required to be
analyzed.
Effective tools for the situation
The best tools that can be used in this situation should be concerned with the effective
evaluation of external environment concerning the organization. Moreover, as it is important to
also evaluate the internal areas internal environment analysis tools will also be necessary. Some
of the tools that can be used are Pestle analysis, Porter’s five forces, SWOT analysis, business
model canvas and other important tools. Pestle analysis can help to measure the frequency of the
political, economic, socio-cultural, technological, environmental and legal factors that can affect
the environments of these global economies. Porter’s five forces help to analyze the pressures
that can be created with regards to customers, suppliers, new entrants, competitors and substitute
products. SWOT analysis analyzes the strength, weakness, opportunity and threats that can affect
a given organization or an industry (Sarooghi, Libaers & Burkemper, 2015). Business model
canvas is used to form strategies for organization considering nine essential aspects of business.