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
what is pest analysis
Why We Love PEST Analysis (And You Should, Too!)
We discuss PEST a lot here. It’s even in the name at the top! PEST analysis is a type of analysis, often used as a strategic tool for business owners, analysts, and the general public. You don’t have to be an obsessive nerd to know or use PEST analysis. But you should have a need. Maybe you’re starting a business. Or you’re curious how corporations are affected by … [Read more...] about Why We Love PEST Analysis (And You Should, Too!)
14 Critical Questions to Ask in PEST Analysis
How do outside factors affect your business? This is the one question every business owner needs to answer. Otherwise, they may face unexpected consequences. We tend to get wrapped up in internal affairs such as operations and invoicing because we have direct responsibility and influence over them. Outside factors can’t be as easily influenced. They exist because of people, … [Read more...] about 14 Critical Questions to Ask in PEST Analysis