![]() It includes government regulations or any defined rules for that particular industry or business. In PEST analysis, 'P' stands for Political environment. Let's study each individual factor of PEST analysis in detail. It is similar to SWOT analysis, which stands for Strength, Weakness, Opportunities, and Threats. PEST analysis helps in making strategic business decisions, planning marketing activities, product development and research. Once these factors are analysed organisations can take better business decisions.ĭescription: PEST Analysis helps organizations take better business decisions and improve efficiency by studying various factors which might influence a business such as political, economic, social, and technology. ![]() PEST stands for Political, Economic, Social, and Technological factors. Definition: PEST Analysis is a measurement tool which is used to assess markets for a particular product or a business at a given time frame.
0 Comments
Leave a Reply. |