Pest analysis

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  • Created on: 14-04-12 14:02
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PEST analysis
PEST analysis is concerned with the key external environmental influences on a
business.
The acronym stands for the Political, Economic, Social and Technological issues that
could affect the strategic development of a business.
Identifying PEST influences is a useful way of summarising the external environment
in which a business operates. However, it must be followed up by consideration of
how a business should respond to these influences.
The table below lists some possible factors that could indicate important
environmental influences for a business under the PEST headings:
Political / Legal Economic Social Technological
Environmental Economic growth Income distribution Government
regulation and (overall by (change in spending on
protection industry sector) distribution of research
disposable income
Taxation (corporate Monetary policy Demographics (age Government and
consumer) (interest rates) structure of the industry focus on
population gender technological effort
family size and
composition
changing nature of
occupations)
International trade Government Labour / social New discoveries and
regulation spending (overall mobility development
level specific
spending
priorities)
Consumer protection Policy towards Lifestyle changes Speed of technology
unemployment (e.g. Home working, transfer
(minimum wage, single households)
unemployment
benefits, grants)
Employment law Taxation (impact Attitudes to work andRates of
on consumer leisure technological
disposable obsolescence
income, incentives
to invest in capital
equipment,
corporation tax
rates)
Government Exchange rates Education Energy use and
organisation / attitude(effects on costs
demand by
overseas
customers effect
on cost of
imported
components)

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Competition Inflation (effect on Fashions and fads Changes in material
regulation costs and selling sciences
prices)
Stage of the Health & welfare Impact of changes in
business cycle Information
(effect on technology
shortterm
business
performance)
Economic "mood" Living conditions Internet!
consumer (housing, amenities,
confidence pollution)…read more

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