PEST analysis is a framework that analyzes macro-environmental factors including political, economic, social and technological factors that influence an organization. It has been extended to STEEPLE and STEEPLED to include additional factors such as legal, environmental and demographic factors. The analysis provides an overview of external factors to consider in strategic planning and decision making. As factors vary in importance between industries and companies, the relevant factors should be identified and given greater focus. PEST analysis can be combined with other tools like SWOT analysis to assess opportunities and threats from external environmental factors.
PESTEL analysis - strategic management - Manu Melwin Joymanumelwin
PESTEL analysis is one important tool that executives can rely on to organize factors within the general environment and to identify how these factors influence industries and the firms within them.
PESTEL analysis - strategic management - Manu Melwin Joymanumelwin
PESTEL analysis is one important tool that executives can rely on to organize factors within the general environment and to identify how these factors influence industries and the firms within them.
This ppt will give you a brief introduction about Environmental factors , Social factors , Economic Factors, Cultural Factors, Geographical Factors, Political Factors, Legal Factors, Ecological Factors
MARKETING MANAGEMENT, ENVIRONMENTAL ANALYSIS, SWOT ANALYSIS, PESTLE, BUSINESS ENVIRONMENT, STEPS FOR ENVIRONMENTAL ANALYSIS, PESTLE ANALYSIS EXAMPLE, ADVANTAGES OF PESTLE ANALYSIS, SWOT ANALYSIS EXAMPLE, ADVANTAGES OF A SWOT ANALYSIS, BUSINESS ADMINISTRATION, MANAGEMENT SCIENCE, EDUCATION AND LEARNING,
Business environment assignment on analysis of different types of companies t...Total Assignment Help
An organisation can be of different types and size. According to the size and sectors, the scope of the companies varies. In Business Environment Assignment, a brief analysis of different types of companies, their size and scope.
Environmental Threat Opportunity Profile.
It is a tool for appraising environmental threats and opportunities.
Preparation of ETOP.
Need of ETOP.
Impact on environmental Sector
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This ppt will give you a brief introduction about Environmental factors , Social factors , Economic Factors, Cultural Factors, Geographical Factors, Political Factors, Legal Factors, Ecological Factors
MARKETING MANAGEMENT, ENVIRONMENTAL ANALYSIS, SWOT ANALYSIS, PESTLE, BUSINESS ENVIRONMENT, STEPS FOR ENVIRONMENTAL ANALYSIS, PESTLE ANALYSIS EXAMPLE, ADVANTAGES OF PESTLE ANALYSIS, SWOT ANALYSIS EXAMPLE, ADVANTAGES OF A SWOT ANALYSIS, BUSINESS ADMINISTRATION, MANAGEMENT SCIENCE, EDUCATION AND LEARNING,
Business environment assignment on analysis of different types of companies t...Total Assignment Help
An organisation can be of different types and size. According to the size and sectors, the scope of the companies varies. In Business Environment Assignment, a brief analysis of different types of companies, their size and scope.
Environmental Threat Opportunity Profile.
It is a tool for appraising environmental threats and opportunities.
Preparation of ETOP.
Need of ETOP.
Impact on environmental Sector
Want help for writing Business Environment Assignment ? Global Assignment Help provides best assignment writing services by highly qualified experts at affordable price.
This is a product strategy I designed with some mates for a Uni Entrepreneurship project. It's a gritty representation of my thinking. I didn't have any hand in the finance side.
Needless to say my ideas and communications thereof, are a bit more polished these days. It's always good to look back and learn.
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BMW is one of the best Luxury car Brand available throughout the globe. BMW target only selective segments. This PPT is about different types of Segments available in a genrel market and how BMW has target few of them
Please visit here for voice over presentation https://www.youtube.com/watch?v=_Ha614-Daug
Disclaimer: Lot of material is taken up from Internet. I was not able to give acknowledgment as i lost the track of sources. In case any copyright material used please let me know. Thank You
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3.2 Environmental Analysis
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3.2 Environmental Analysis
Marketing managers are tasked with shaping the elements of the marketing mix to fit the preferences and needs of the target market. This process does not, however, take place in a constant or unchanging environment. The dynamic external environment to which decision makers must respond and adapt comprises two distinct types of variables. Macro-environmental forces are those uncontrollable external variables that impact all firms within an industry. These include demographic shifts, prevailing economic conditions, cultural trends, and changes in the regulatory environment. The PESTEL framework, discussed in the following section, addresses these macro-environmental forces. Micro-environmental forces are external stimuli that selectively and discretely influence each firm uniquely and independently. Though not directly under the control of any single organization, some of these elements of the external environment can be managed and influenced to a significant degree. These micro-environmental forces include the behavior of a company’s suppliers, customers, and channel intermediaries such as independent wholesalers and retailers.
Marketing managers exercise direct control over a limited range of internal resources and decision variables through which they can respond to the threats and opportunities posed by the external environment. Primary among these tools are the marketing mix variables and managers’ discretion to identify segments and select target markets. The success of a marketing plan hinges on the ability to adapt the marketing mix to fit the changing character of both the target market and the larger context provided by macro-environmental forces and trends.
Understanding Forces and Trends: PESTEL Analysis
The process of systematically assessing how elements of the external environment will impact a business or market is termed environmental scanning. Factors of particular concern to marketing managers include those issues and trends that influence the attitudes and behavior of current and prospective target markets. Other points of concern focus on conditions relevant to economies, industries, allied companies (e.g., suppliers), and competitors.
Conducting an environmental scan can incorporate a wide range of information sources and research methodologies such as statistical trend analysis and data mining. However, each variation on the process shares the goal of providing managers with relevant information to improve the quality of marketing decisions. These decisions include choices about new opportunities nested in the strategic alternatives of market penetration, market development, and product development.
Although there are a number of ways to scan the external environment, among those models with the most comprehensive set of external factors is t.
Marketing managers are tasked with shaping the elements of the mar.docxinfantsuk
Marketing managers are tasked with shaping the elements of the marketing mix to fit the preferences and needs of the target market. This process does not, however, take place in a constant or unchanging environment. The dynamic external environment to which decision makers must respond and adapt comprises two distinct types of variables. Macro-environmental forces are those uncontrollable external variables that impact all firms within an industry. These include demographic shifts, prevailing economic conditions, cultural trends, and changes in the regulatory environment. The PESTEL framework, discussed in the following section, addresses these macro-environmental forces. Micro-environmental forces are external stimuli that selectively and discretely influence each firm uniquely and independently. Though not directly under the control of any single organization, some of these elements of the external environment can be managed and influenced to a significant degree. These micro-environmental forces include the behavior of a company’s suppliers, customers, and channel intermediaries such as independent wholesalers and retailers.
Marketing managers exercise direct control over a limited range of internal resources and decision variables through which they can respond to the threats and opportunities posed by the external environment. Primary among these tools are the marketing mix variables and managers’ discretion to identify segments and select target markets. The success of a marketing plan hinges on the ability to adapt the marketing mix to fit the changing character of both the target market and the larger context provided by macro-environmental forces and trends.
Understanding Forces and Trends: PESTEL Analysis
The process of systematically assessing how elements of the external environment will impact a business or market is termed environmental scanning. Factors of particular concern to marketing managers include those issues and trends that influence the attitudes and behavior of current and prospective target markets. Other points of concern focus on conditions relevant to economies, industries, allied companies (e.g., suppliers), and competitors.
Conducting an environmental scan can incorporate a wide range of information sources and research methodologies such as statistical trend analysis and data mining. However, each variation on the process shares the goal of providing managers with relevant information to improve the quality of marketing decisions. These decisions include choices about new opportunities nested in the strategic alternatives of market penetration, market development, and product development.
Although there are a number of ways to scan the external environment, among those models with the most comprehensive set of external factors is the PESTEL analysis. PESTEL is an acronym for the six environmental factors identified in the framework shown in Figure 3.4: political, economic, social, technological, environmental, ...
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Sectoral targets and attacks as well as the cost of ransom
Global APT activity, AI usage, actor and tactic profiles, and implications
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Major cyber events in 2024
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1. PEST analysis stands for "Political, Economic, Social, and Technological analysis" and describes a
framework of macro-environmental factors used in the environmental scanning component ofstrategic
management. The model has recently been further extended to STEEPLE and STEEPLED, adding
education and demographics factors.It is a part of the external analysis when conducting a strategic
analysis or doing market research and gives a certain overview of the different macroenvironmental
factors that the company has to take into consideration. It is a useful strategic tool for understanding
market growth or decline, business position, potential and direction for operations.
The growing importance of environmental or ecological factors in the first decade of the 21st century
have given rise to green business and encouraged widespread use of an updated version of the PEST
framework. STEER analysis systematically considers Socio-cultural, Technological, Economic,
Ecological, and Regulatory factors.
Contents
[hide]
• 1 The Model's Factors
• 2 Applicability of the Factors
• 3 Use of PEST Analysis with Other Models
• 4 References
• 5 External links
The Model's Factors
Political factors, or how and to what degree a government intervenes in the economy.
Specifically, political factors include areas such as tax policy, labour law, environmental law,trade
restrictions, tariffs, and political stability. Political factors may also include goods and services
which the government wants to provide or be provided (merit goods) and those that the
government does not want to be provided (demerit goods or merit bads). Furthermore,
governments have great influence on the health, education, and infrastructure of a nation.
Economic factors include economic growth, interest rates, exchange rates and the inflation rate.
These factors have major impacts on how businesses operate and make decisions. For example,
interest rates affect a firm's cost of capital and therefore to what extent a business grows and
expands. Exchange rates affect the costs of exporting goods and the supply and price of imported
goods in an economy
2. Social factors include the cultural aspects and include health consciousness, population growth
rate, age distribution, career attitudes and emphasis on safety. Trends in social factors affect the
demand for a company's products and how that company operates. For example, an ageing
population may imply a smaller and less-willing workforce (thus increasing the cost of labor).
Furthermore, companies may change various management strategies to adapt to these social
trends (such as recruiting older workers).
Technological factors include ecological and environmental aspects, such
as R&D activity,automation, technology incentives and the rate of technological change. They can
determinebarriers to entry, minimum efficient production level and
influence outsourcing decisions. Furthermore, technological shifts can affect costs, quality, and
lead to innovation.
Legal factors include discrimination law, consumer law, antitrust law, employment law, andhealth
and safety law. These factors can affect how a company operates, its costs, and the demand for
its products.
Environmental factors include weather, climate, and climate change, which may especially affect
industries such as tourism, farming, and insurance.Furthermore, growing awareness to climate
change is affecting how companies operate and the products they offer--it is both creating new
markets and diminishing or destroying existing ones.
Applicability of the Factors
The model's factors will vary in importance to a given company based on its industry and the goods it
produces. For example, consumer and B2B companies tend to be more affected by the social factors,
while a global defense contractor would tend to be more affected by political factors.[1] Additionally,
factors that are more likely to change in the future or more relevant to a given company will carry
greater importance. For example, a company who has borrowed heavily will need to focus more on the
economic factors (especially interest rates).[2]
Furthermore, conglomerate companies who produce a wide range of products (such as Sony, Disney,
or BP) may find it more useful to analyze one department of its company at a time with the PESTEL
model, thus focusing on the specific factors relevant to that one department. A company may also
wish to divide factors into geographical relevance, such as local, national, and global (also known as
LoNGPESTEL).
Use of PEST Analysis with Other Models
3. The PEST factors combined with external micro-environmental factors can be classified as
opportunities and threats in a SWOT analysis. PEST/PESTLE alongside SWOT and SLEPT can be used
as a basis for the analysis of business and environmental factors.
References
1. ^ "PEST: Political, Economic, Social, and Technology Analysis". The Decision
Group.http://www.decide-guide.com/pest.html. Retrieved on 2009-01-27.
2. ^ "PESTEL analysis of the macro-environment". Oxford University Press.
2007.http://www.oup.com/uk/orc/bin/9780199296378/01student/additional/page_12.htm.
Retrieved on 2009-01-27.
http://www.oup.com/uk/orc/bin/9780199296378/01student/additional/page_12.htm
External links
PEST analysis method and examples from Businessballs.com
PESTLE analysis history and application from the CIPD