be used to review a
strategy or position, direction
of a company, a marketing proposition, or idea. Completing a PEST analysis is very simple,
and is a good subject for workshop sessions. PEST analysis also works well in brainstorming
meetings. Use PEST analysis for business and strategic planning, marketing planning,
business and product development and research reports. You can also use PEST analysis
exercises for team building games. PEST analysis is similar to SWOT analysis - it's simple,
quick, and uses four key perspectives. As PEST factors are essentially external, completing
a PEST analysis is helpful prior to completing a SWOT analysis (a SWOT analysis -
Strengths, Weaknesses, Opportunities, Threats - is based broadly on half internal and half
external factors).
A PEST analysis measures a market; a SWOT analysis measures a business unit, a
proposition or idea.
N.B. The PEST model is sometimes extended (some would say unnecessarily) to seven
factors, by adding Ecological (or Environmental), Legislative (or Legal), and Industry Analysis
(the model is then known as PESTELI). Arguably if completed properly, the basic PEST
analysis should naturally cover these 'additional' factors: Ecological factors are found under
the four main PEST headings; Legislative factors would normally be covered under the
Political heading; Industry Analysis is effectively covered under the Economic heading. If you
prefer to keep things simple, perhaps use PESTELI only if you are worried about missing
something within the three extra headings.
A SWOT analysis measures a business unit or proposition, a PEST analysis measures the
market potential and situation, particularly indicating growth or decline, and thereby market
attractiveness, business potential, and suitability of access - market potential and 'fit' in other
words. PEST analysis uses four perspectives, which give a logical structure, in this case
organized by the PEST format, that helps understanding, presentation, discussion and
decision-making. The four dimensions are an extension of a basic two heading list of pro's
and con's.
PEST analysis can be used for marketing and business development assessment and
decision-making, and the PEST template encourages proactive thinking, rather than relying
on habitual or instinctive reactions.
Here the PEST analysis template is presented as a grid, comprising four sections, one for
each of the PEST headings: Political, Economic, Social and Technological. The free PEST
template below includes sample questions or prompts, whose answers are can be inserted
into the relevant section of the PEST grid. The questions are examples of discussion points,
and obviously can be altered depending on the subject of the PEST analysis, and how you
want to use it. Make up your own PEST questions and prompts to suit the issue being
analysed and the situation (ie., the people doing the work and the expectations of them). Like
SWOT analysis, it is important to clearly identify the subject of a PEST analysis, because a
PEST analysis is four-way perspective in relation to a particular business unit or proposition -
if you blur the focus you will produce a blurred picture - so be clear about the market that you
use PEST to analyse.
A market is defined by what is addressing it, be it a product, company, brand, business unit,
proposition, idea, etc, so be cl
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