Political, Economic, Social and Technological analysis

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Presentation transcript:

Political, Economic, Social and Technological analysis How to pest Political, Economic, Social and Technological analysis

What is Pest? PEST is a type of macro-level analysis for what factors can influence a business P is for Political E is for Economic S is for Social T is for Technology Example: Political Consulting

Political Question: What Factors does the government influence? What to look for: 1. Laws 2. Regulation 3. Infrastructure 4. Political Stability For our example: Limits to campaign contributions Political Action Committee Regulations Voter Data and Statistics Mail and Telephone regulations

Economical Question: How does the overall economy influence my industry? Consider: 1. Rates (growth, exchange, interest, etc). 2. Unemployment Example: 1. Use of interns for low-level work 2. Jobs are temporary 3. Markets and sectors interested in politics

Social Question: What social factors influence my business? Consider: 1. Demographics 2. Education 3. Cultural Norms Example: 1. Feelings of Civic Responsibility 2. Specific social-driven constituencies 3. Education

Technological Question: How does technology influence my business? Consider: 1. Automation 2. The Internet 3. Databases Example: 1. Voter Database 2. Mobile Technology and Communication 3. Social Media

Conclusion Political Economic Social Technology The PEST Analysis predicts how overall economy can influence industry Important tool See Also: SWOT Analysis