The Business Situation Frame Work from Victor Cheng is structured into 4 categories:
1. Customers- That are customers inside the industry we are evaluating that the client or client competitor serves (we can evaluate how they are segmented and who the client is positioned themselves to reach vs who they are not reaching, that their competitors might be reaching etc.)
2. Company- That is the clients- (everything relevant to the case situation)
3. Competitors- whoever is considered competition to the client (you could benchmark competencies, to management, to financials against the client's company)
4. Product - The client’s products (now you can compare or benchmark offerings versus competitors here).
Depending on the case or situation you are evaluating, you can restructure this as:
Internal and External factors and break down as shown below:
Company - look inwards at every aspect that is relevant (products, financials etc.)
Market or Industry analysis (MACRO level trends)
Competitor Assessment (financials, products, competencies etc.)
Hope this helps?