1.5 External Environment PEST Analysis. External Factors that Impact Business Political and Legal Issues  Employment laws  Consumer Protection Laws.

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Presentation transcript:

1.5 External Environment PEST Analysis

External Factors that Impact Business Political and Legal Issues  Employment laws  Consumer Protection Laws  Business competition Laws  Political changes (elections?)  Policy changes  Can you think of anything in this category that has currently affected business?

External Factors that Impact Business Economic Influences  Economic Growth  Rising or falling living standards  Low or high levels of unemployment  Value of imports/exports  Can you think of anything in this category that has currently affected business?

External Factors that Impact Business Social and Cultural  Population demographics  Role of women  Improved Education  Retirement  Divorce/Marital rates  Job security  Immigration  Can you think of anything in this category that has currently affected business?

External Factors that Impact Business Impact of Technology  Costs (Equipment, labor training)  Labor relations  Data communication  CAD/CAM (computer-aided design/computer-aided manufacturing)  Internet/Intranet  Application programs  Can you think of anything in this category that has currently affected business?

PEST ANALYSIS This form of business analysis examines the external environment and the global factors that may affect a business. It can provide a quick and visual representation of business. It can provide a quick and visual representation of the external pressures facing a business, and their possible constraints on strategy. the external pressures facing a business, and their possible constraints on strategy. It is usually divided into four external influences on a business P – Political E – Economic S – Social T – Technological