This document provides an analysis of various internal and external factors affecting H&M and its business policies. It covers theories such as SWOT analysis, Porter's five forces, PESTLE analysis, and VRIO analysis of resources and capabilities. The analysis includes political, economic, social, technological, legal, and environmental factors, as well as the threat of new entrants, bargaining power of suppliers and buyers, threat of substitutes, rivalry among existing firms, and the resources and capabilities of H&M. Recommendations for H&M's future strategies are also provided.