In business we use many tools to strategise such as PESTLE, SWOT analysis, Priority Matrices, Cost Benefit Analysis, Ansoff Matrix, Cause and Effect Diagrams (Fish-bone) and many others to provide us with reliable data to make informed decisions. However, these tools although might sound unfamiliar to some of you, can be applied across many different industries. The idea of these tools are for you to brainstorm the content to place inside them and then to analyse what the content is telling you and in what direction the data is essentially guiding the direction of the business. Not all the information you collate may be positive, there may be threats identified and weaknesses exposed and this ultimately is why we use such tools. This valuable data will then become the area for continuous improvement and opportunities in order to steer the business in the right direction to hopefully succeed for a healthy on-going operation. So have a go, there is no right or wrong answer to completing the use of these tools, it is about what are you seeking to find out and using the information to the advantage of your business.
Good Luck with your research
Advance Diploma Trainer and Assessor