Introduction to PEST Analysis
Assess the macro-environmental and industry factors impacting your business or market.
PEST Analysis is a fundamental technique for developing any business strategy. It's a proven method for assessing the external, macro-environmental factors - political, economic, societal and technological that could create threats or opportunities for your industry. Combined with Porter's Five Forces Analysis and Trend Quantification you will have a much better picture of the dynamics playing out in your industry and what the implications of these dynamics are. In this Expert Toolkit Guide you'll get:
- An overview of the PEST Analysis approach and how it adds value in a business context
- An understanding of how PEST Analysis and Porter’s 5 Forces work together
- An overview of the key steps involved in producing a PEST Analysis
- Templates to use for conducting PEST Analysis
- An explanation of the benefits and limitations of PEST Analysis
- A worked example of PEST Analysis
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