When assessing business strengths, which tool might be utilized?

Planning grids are a useful tool for assessing business strengths because they allow organizations to systematically evaluate various factors important for decision-making. These grids typically help businesses prioritize initiatives or resources based on the strengths they possess relative to the marketplace or operational capabilities. By mapping out critical elements, such as internal resources, competitive advantages, and market opportunities, companies can identify where they stand against competitors and how they can leverage their strengths for growth.

The other tools mentioned have different focuses. PEST analysis is primarily concerned with analyzing external factors (political, economic, social, and technological) that can impact a business, rather than internal strengths. Market mapping focuses on visualizing the competitive landscape and identifying where a business fits within that context. Customer personas create detailed profiles of target customers but do not evaluate the internal strengths of a company directly.