Pest Analysis

A train OF ACHIEVEMENT BUSINESS STUDIES A LEVEL RESOURCES. Issue 3 Sept 2004 Page 1 PEST Analysis A PEST abbreviation examines the Political, Economic, Social and Technological environments that affect industries and companies. (PEST analysis is also known STEP analysis). It is now recognised by marketing professionals that in the longer term survival and succeeder of a business is dependant upon the external environment a business operates within. It is not enough to say we have the obligation marketing mix, or the best product portfolio without being apprised of the external environment. And to make things a little more alter the external environment i.e. the PEST factors, is not stable tho forever changing. ness, however large. Firms essential try to react to and address how Political, Economic, Social and Technological factors, will impact the business, and how strategy shtup be adapted to meet the changes.

For large businesses the completion of a PEST analysis is an ongoing process, and remember that multi nationals will be operating in a large number of countries and it must also be noted that many PEST factors such as environmental controls, macro-economic policy and energy costs put forward and will can differ per continent, country or so far region, so normally a PEST analysis should be performed per country. Examples of the effects of changing PEST factors inThe PEST itself can be carried out through researchclude: ing the business environment. For example by extractPoliticalâ€"Gordon Brown, the chancellor of the Ex- ing business and market related breeding from newspapers, journals, government publications etc. chequer recently increased the tax payable on alcopops, such as Bacardi Breezer, well above the rate of The information collected is often fed into company workshops where managers use cerebrate techincrease in tax rates on other pelter drinks, sales niques to develop scenarios and possibilities. were markedly reduced. In the early 80s new... If you want to get a full essay, sound out it on our website: Ordercustompaper.com

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