1
Q
External analysis - PESTEL
A
- Political
- Economic
- Social and demographic
- Technological
- Environmental
- Legal
2
Q
Porter’s diamond
1) Use
2) What
A
1) Porter identified the 4 key determinants of national competitive advantage
a) Factor conditions - supply side (banks)
b) Demand conditions - local consumers demanding innovation
c) Related and supporting industries
d) Strategy, Structure and rivalry - local competitive forces firms to be more efficient to survive
