Business unit Essay
The main reason McDonald’s use both STOW and PESTLE analysis is because it allows McDonald’s to see what they can do to improve themselves in the future. STOW is an acronym that stands for strengths, weaknesses, opportunities and threats. PESTLE has wider coverage of business and external issues, including political, economic, social, technological, legal and environmental factors. A STOW analysis allows McDonald’s to consider advantages that may help tell the differences between them and their competitors.
Analyzing weaknesses shows what McDonald’s can do to improve their business in order to gain more customers. Opportunities and threats analysis help McDonald’s determine the current and future viability of their business plan. With PESTLE, it allows McDonald’s to consider the external factors that may positively or negatively affect the development of their business. For instance, some companies thrive during a tough economy, while many struggle because of more budget-conscious customers. These strategies allow McDonald’s to look at external hinge too for e. . Using PESTLE can ensure that McDonald’s stay current with any legal issues, such as industry regulations. They can also avoid major mistakes by engaging in business activities in the current social and environmental situations. Conclusion McDonald’s has undergone several changes since
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The company is doing very well and keeps trying in Africa, China, and the Middle East, which will be a continued source of revenue for many coming years. If McDonald’s can overcome all of its challenges, makes use of advantages and has right strategies, it will win the market again and hold fast to first position in fast food industry. Http://smelliness’s. Chronic. Com/ reason-use-stow-pestle-analysis-40481 . HTML http://cancelled 3. Hubcap’s. Com/hub/ McDonald’s-STOW-analysis-and-recommendations