While industry factors have a significant impact on the performance of a company, there are a number of external factors that also play an important role in how successful a business can be. So, how do you determine what role those factors are playing in your business? This is where PEST analysis comes in and allows you to take a look at four external factors, which are … [Read more...] about How to Do a PEST Analysis in 5 Easy Steps
how to use pest analysis
PESTLE analysis is one of the most popular business analysis tools there is. Although it might sound too good to be true, looking at just the Political, Economic, Sociocultural, Technological, Legal, and Environmental factors at play in a chosen business environment can give you bounds of valuable insight. A big part of using PESTLE analysis effectively is understanding what … [Read more...] about What Is PESTLE Analysis Used for?
You’re ready. You’ve done your research. You know PESTLE is an analysis. It’s an acronym highlighting seven macro environmental, impeding factors. Which basically means there are seven major influences that can affect a business. Political Economic Socio(cultural) Technological Legal Environmental You’ve likely seen examples of PESTLE analysis (available … [Read more...] about The Best And Worst Times To Use PESTLE Analysis