Analyzing the business context involves several steps and tools:
SWOT Analysis: Identifies internal strengths and weaknesses and external opportunities and threats. PESTLE Analysis: Examines political, economic, social, technological, legal, and environmental factors affecting the business. Porter's Five Forces: Analyzes the competitive forces within an industry to understand the intensity of competition. Value Chain Analysis: Identifies the primary and support activities that add value to the product or service. Stakeholder Analysis: Identifies and assesses the impact of various stakeholders on the business.