What is the Difference between SWOT and PEST Analysis?

SWOT Analysis Definition

Situation analysis in which internal strengths and weaknesses of an organization, and external opportunities and threats faced by it are closely examined to chart a strategy. SWOT stands for strengths, weaknesses, opportunities, and threats. See also PEST analysis. SWOT and PEST

PEST analysis Definition

A type of situation analysis in which political-legal (government stability, spending, taxation), economic (inflation, interest rates, unemployment), socio-cultural (demographics, education, income distribution), and technological (knowledge generation, conversion of discoveries into products, rates of obsolescence) factors are examined to chart an organization’s long-term plans. See also SWOT. S

SWOT and PEST Analysis By hpa