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pest analysis. In analyzing the macro-environment, it is important to identify
the factors that might in turn affect a number of ...
... pest market analysis tool PEST analysis method and examples, with free PEST template
The PEST analysis is a useful tool for understanding market growth or ...
Pest Analysis. ... Remember macro-economical factors can differ per continent, country
or even region, so normally a PEST analysis should be performed per country. ...
PEST Analysis ENCANA. PEST CASE ... Here are a few more pertinent facts about
the corporation before I begin my PEST analysis. EnCana has ...
7 Eleven PEST Analysis. A PEST analysis (also sometimes called STEP, STEEP or
PESTLE analysis) looks at the external business environment. ...
Submitted by zerokarma on May 11, 2008
Category: Business
Words: 2236 | Pages: 9
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Introduction
In analyzing the macro-environment, it is important to identify the factors that might in turn affect a number of vital variables that are likely to influence the organization’s supply and demand levels and its costs (Kotter and Schlesinger, 1991; Johnson and Scholes, 1993). The “radical and ongoing changes occurring in society create an uncertain environment and have an impact on the function of the whole organization” (Tsiakkiros, 2002). A number of checklists have been developed as ways of cataloguing the vast number of possible issues that might affect an industry. A PEST analysis is one of them that is merely a framework that categorizes environmental influences as political, economic, social and technological forces. Sometimes two additional factors, environmental and legal, will be added to make a PESTEL analysis, but these themes can easily be subsumed in the others. The analysis examines the impact of each of these factors (and their interplay with each other) on the business. The results can then be used to take advantage of opportunities and to make contingency plans for threats when preparing business and strategic plans (Byars, 1991; Cooper, 2000).
Kotler (1998) claims that PEST analysis is a useful strategic tool for understanding market growth or decline, business position, potential and direction for operations. The headings of PEST are a framework for reviewing a situation, and can in addition to SWOT and Porter’s Five Forces models, be applied by companies to review a strategic directions, including marketing proposition. The use of PEST analysis can be seen effective for business and strategic planning, marketing planning, business and product development and research reports. PEST also ensures that company’s performance is aligned positively with the powerful forces of change that are affecting business environment (Porter, 1985). PEST is useful when a company decides to enter its business...
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