PEST analysis is an ellipsis of “Political, Economic, Social, and Technological analysis” and illustrates a framework of macro-environmental factors used in the environmental scanning element of strategic management. Since any organization’s marketing environment comprises of political, economic, social-cultural, and technological factors, therefore it is important to keep these factors in view when making strategic planning. The analysis provides a perceptive of the broader business environment, encourages the development of strategic thinking, and helps an organization to identify opportunities and take advantage of them. The PEST analysis example that we offer allows you to carry out PEST analysis in a much better and enhanced way.
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