No business can remain competitive and work effectively on its own projects without a well-develop development strategy . Every day, any company is affect by dozens or even hundrs of different uncontrollable circumstances of a negative nature that can significantly weaken the organization.
That is why companies that do not pay attention
To planning and analyzing the external environment often risk losing their market positions and finding themselves on the verge of bankruptcy. To prevent c level contact list this from happening, it is important to be able to correctly draw up a strategic development plan for the coming years and take into account all possible external influences, events and risks.
Specializ analytical tools, such as PEST analysis of a company, can help in drawing up such a plan. It helps identify the most significant external factors that have a strong impact on the business and its development.
In this article, we will take a closer look at the concept of PEST analysis. We will find out what this tool is for, what significant macroenvironment factors it provide your audience with useful content consists of, and what examples and types of PEST analysis exist. In addition, we will analyze the pros and cons of the tool, and at the end of the article, we will tell you how to conduct a PEST analysis.
What is PEST analysis and what is it for?
PEST analysis is a strategic marketing tool that is commonly us to assess the impact of the external environment on a particular company. That is, the PEST analysis method gives an idea of what circumstances and with what force affect the enterprise. It is intend for planning a program of actions in the long term: from three years and more.
Here we will dwell in more detail on one important b2c fax concept – “external factors”. Factors are circumstances, events that have a direct or indirect impact on the company’s activities.
There are internal factors: those that a company can influence. And external environmental factors — they are beyond the control of business: the political situation, inflation, natural disasters. A striking example is the coronavirus pandemic.
