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How to do a PEST Analysis

This series looks at the different strategic tools and methods used when designing your business strategy for execution.In this article we will look at the PEST analysis. To know more please visit at http://sellyourbusiness.co.za/biz-strategy-101-how-to-do-a-pest-analysis/

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How to do a PEST Analysis

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  1. Biz Strategy 101: How to do a PEST Analysis By Sell Your Business http://sellyourbusiness.co.za/biz-strategy-101-how-to-do-a-pest-analysis/

  2. Introduction-- This series looks at the different strategic tools and methods used when designing your business strategy for execution.

  3. What does “PEST” mean ? It refers to “Political, Economic, Socio-Cultural, Technological”. This analysis is used for marketing and business development assessments. What is the main outcome of using “PEST” ? It helps management to identify threats and opportunities in its market as part of its strategic planning initiatives. The PEST analysis is different to the SWOT analysis as it looks at the opportunities and threats across Political, Economic, Socio-Cultural, Technological factors.

  4. Which are the key areas and factors for consideration ? • Political Factors • Economic factors • Socio-Cultural Factors • Technological Environment Factors What is the approach to this model ? Discuss all four factors in a brainstorming session. Draw conclusions based on discussions and findings. Conclusion - Use the PEST analysis in conjunction with the SWOT analysis. This analysis will give you a good sense of the challenges your business will be facing in both existing and new markets.

  5. https://www.youtube.com/channel/UCY5dBTL475Ltdis6G2A2BxA http://sellyourbusiness.co.za/biz-strategy-101-how-to-do-a-pest-analysis/business.hunters https://www.facebook.com/sellabusiness https://twitter.com/BizHunters https://www.linkedin.com/in/smitwillem/ info@sellyourbusiness.co.za

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