PESTEL Analysis             PESTEL stands for "political, economic, social, technical, environmental, and legal" examination. It's a term used in marketing. PESTEL analysis is a technique or plan for doing situational analysis that is useful. PESTEL study aids in the detection of macro-environmental changes. It enables a company to track and react to changes in the macro environment, allowing it to outperform the competition. It assists a company in identifying the benefits and drawbacks of a business strategy. PESTEL analysis are explained as follows:   Political: The term "political considerations" refers to the government's policies and interventions in the country's economy. Any country's marketing ...

                               Monopoly market   Monopoly occurs when a company and its products dominate a sector or industry and a firm, and its products control a market. In an extreme free market capitalism, monopoly is feasible. There have been no constraints or restraints. When a company or group owns a product or service. Monopoly Characteristics: Absence of competition: In a monopoly market, there is also no competition because the monopolist dominates the market and profits. This is because monopoly creates a barrier to entry in the market. Lack of product variety: Because there are only a few sellers in the market, there is a lack of product variety. The monopolist is the sole provider of goods or services in the monopoly market. Price: Because there are no competitors in the market, the prices of the product below are usually set by the p...

                                 Strategic Management In today's economic environment, where the market has become broad and aggressive, each company, organization, or enterprise has a certain objective to fulfil, and to do so, they must become more competent in today's economic environment. What is the definition of strategic management? Strategic management is identifying and describing the strategies that each company develops in order to perform successfully and earn more profit. The strategic management of a company entity provides guidance in the planning, creation, and implementation of specific goals. The fundamental principles of strategy are outlined here. 1) In a competitive market, establishing a firm's market position 2) Identifying and attempting to prevent hurdles to the firm's growth and development. 3) Creating a complete procedure in a corporate organization and completing all tasks at...