Pest Analysis

A take OF ACHIEVEMENT BUSINESS STUDIES A LEVEL RESOURCES. Issue 3 Sept 2004 Page 1 PEST Analysis A PEST summary 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 advantage of a business is dependant upon the external environment a business operates within. It is not enough to say we have the good marketing mix, or the best product portfolio without being certified of the external environment. And to make things a little more confused the external environment i.e. the PEST factors, is not stable just forever changing. ness, however large. Firms mustiness try to react to and calculate how Political, Economic, Social and Technological factors, will impact the business, and how strategy ignore 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 much(prenominal) as environmental controls, macro-economic policy and energy costs sess and will can differ per continent, country or scour 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 premier of the Ex- ing business and market related info from newspapers, journals, government publications and so forth 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 think techincrease in tax rates on other soaker drinks, sales niques to develop scenarios and possibilities. were markedly reduced. In the early 80s new... If you want to get a full essay, effectuate it on our website: Ordercustompaper.com

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