Question

Which two methods are important for growth of industry?

Answer 1

Explanation:

There are three commonly used and important methods of performing industry analysis.

...

Types of industry analysis

Competitive Forces Model (Porter's 5 Forces) This model is more commonly.

Broad Factors Analysis (PEST Analysis)

SWOT Analysis.

Answer 2

The methods that are important for the growth of the industry are Broad Factor Analysis and SWOT Analysis.

What are Broad Factor Analysis and SWOT Analysis and Why are these two more important methods for the growth of the industry?

• It is very important to know the Broad Factor Analysis which brings an impact on the Political, Economical, Social, and Technological (PEST) aspects of an organization.
• SWOT or Strengths, Weaknesses, Opportunities, and Threats are analyzed to run a business successfully.
• On analyzing all these factors the business becomes easy with more developments and advanced technologies.