Analysis

2733 WordsMar 25, 201211 Pages
Papers4You Home FAQ Sell your papers CONTACT vacancies SEARCH Over 50,000 Ready Made Papers & Reference Lists: MORE Search Options Acceptable Use Policy Essay Samples Our Guarantees About Us Glossary What is PEST analysis? Free Stuff > What is PEST analysis? What are the main aspects of PEST analysis? How to write Good PEST analysis of a company? Where to find information for PEST analysis? PEST Analysis Examples; Reports on Different Companies PEST analysis is also known as: STEP, PESTEL, PESTLE, PESTE, PESTLIED, SLEPT, STEEPLE, STEEPLED, LE PEST C and LEPEST analysis. Introduction In analyzing the macro-environment, it is important to identify the factors that might in turn affect a number of vital variables that are likely to influence the organization’s supply and demand levels and its costs (Kotter and Schlesinger, 1991; Johnson and Scholes, 1993). The "radical and ongoing changes occurring in society create an uncertain environment and have an impact on the function of the whole organization" (Tsiakkiros, 2002). A number of checklists have been developed as ways of cataloguing the vast number of possible issues that might affect an industry. A PEST analysis is one of them that is merely a framework that categorizes environmental influences as political, economic, social and technological forces. Sometimes two additional factors, environmental and legal, will be added to make a PESTEL analysis, but these themes can easily be subsumed in the others. The analysis examines the impact of each of these factors (and their interplay with each other) on the business. The results can then be used to take advantage of opportunities and to make contingency plans for threats when preparing business and strategic plans (Byars, 1991; Cooper, 2000). Kotler (1998) claims that PEST analysis is a useful strategic tool for understanding market

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