Some several tools and techniques are used in the business

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Competitive Strategy
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Introduction
Some several tools and techniques are used in the business world to make the best
strategic analysis and planning. These tools enable the business to understand the environment in
which they operate and come up with plans on how to best maximize their operations in that
particular environment. These strategic analysis tools help the best to tackle the unseen and
evade any possible challenges that the business may face from the markets. Additionally, these
tools enable the business to predict new opportunities that may be existing in the market. With
the ever-competitive and dynamic market, without robust strategies, the companies will not be
able to survive. Every business exists in the face of competition and the right strategy analysis
tools will enable the business to stay afloat. Among the common strategic tools include PESTLE
analysis, SWOT analysis, and Porter’s five forces. The tools evaluate both the internal and
external market environment that enables the business to understand the environment in which it
operates
PESTEL analysis
This tool is used to analyze the external environmental factors of a business. The tool is
purposely useful when starting a new business or venturing into new markets. This tool is
additionally used in collaboration with other tools such as SWOT analysis and Porter’s five
forces. PESTEL is acronym for Political, Economic, Social, Technological, Environmental, and
Legal factors (Peralta and Viltard, 2015, pp.500). These factors will be analyzed below
concerning how a business has made use of them to venture into new opportunities.

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Political
These deal with the extent or the degree in which the government takes part in the
economy of a certain country. It covers all the influence that a government has on the operations
of a business. Some of the political factors may include political stability or instability, tax
policy, foreign trade policy, environmental law, labor law, corruption, and trade restrictions.
These factors have to be taken into considerations by the entrepreneur in the process of analyzing
the potential and attractiveness of the market. The political factors of Apple Inc. mainly present
opportunities for multinational corporations. Some of the factors that affect Apple operations
include trade disputes and the improvement of free trade policies. For instance, the ever-
increasing tension and trade bans between the U.S and China serve as a threat to the company.
This is because most production factories for Apple are based in China. In contrast, the stable
political atmosphere in the developed countries serves as an opportunity for Apple to increase its
market share.
Economic
These factors determine the performance of the economy in certain interest rates,
unemployment rates. They include; economic growth, exchange rates, and the disposable income
of the consumers’ region. Economic factors mainly affect the purchasing power of the consumers
and can, therefore, alter the demand or supply (Ho, 2014, pp.6480). For the case of Apple, the
increase of disposable income among the target consumers and the rapid growth of developing
companies serve as opportunities for the company. The high disposable income creates a new
market niche for the company to promote its premium products.

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Social
The social factors represent the norms, customs, and values of the demographics in which
the business operates. They may include population trends, income distribution, age, lifestyle,
attitudes, and growth rate. These factors assist promoters when doing marketing analysis and
positioning. They also enable the company to create a working awareness campaign (Bagheri,
2016, pp.435). Some of the social factors that affect the operations of Apple include the rise in
the use of smartphones and the international anti-Apple campaign. The rise of internet
connectivity and dependence on smartphones serves as an opportunity for Apple to expand its
market. The Anti-apple sentiments serve as a threat to the company. This includes the lawsuits
that Apple has previously filed against its competitors.
Technological
Technological factors entail the rise in innovations and how digitization and globalization
may affect the operations of a business. They may include research and development,
automation, technological change and creating technological awareness in the market. The
technological factors for Apple Inc. generally provide opportunities for the company (Takata,
2016, pp.5618). Factors such as the ever-growing need for cloud computing, the increase in
technological integration in businesses and the growing mobile market allow the company to
expand.