PEST is a framework for analyzing the macro-level environment of a business that surveys the Political, Economic, SocioCultural and Technological (PEST) factors in the external environment. The factors are then assessed to identify significant changes that might have an impact on planned global expansion of an existing product or service, entrance into a new market, a foreign business opportunity, or a multinational company's (MNC's) competitive edge in its global business operations. The aim is to identify those external factors that present opportunities or threats.
Strategic Management Insight, MindTools, and Businessballs offer guidance for many strategy tools, including PEST Analysis, by offering definitions, summaries and step-by-step guides.
PESTEL issues can affect a company on many levels. Consider how they affect your suppliers, customers, competitors, and complementors as well. For information: look at Industry Forecasts Company Analyst Reports search for journal and newspaper articles (Use links in adjacent column)
Sample search strategies:
- company name AND relevant key words - trends AND your industry
Find information on how technology impacts your product or the direction the market is moving:
What laws affect a company's operations, costs and demand?