Political 🗳
What governments, policies, elements, or groups could benefit or disrupt our success?
Economic 💰
What economic factors might impact our company’s pricing, revenue, and costs in the long term?
Social 🌏
How do our customers and potential customer's demographic trends & values influence their buying habits?
Technological 📟
How might existing or future technology impact our growth and success?
How to run a PEST analysis
Brainstorm 🧠
First and foremost, you need to brainstorm the various PEST factors that might impact your business. Ask each team member to come up with a few ideas for each of the 4 above mentioned factors.
Rank 📊
With these ideas in place, rank these factors based on their expected level of impact on the organisation. Allow people the time and space to change their minds if they want to.
Share 🤝
Share your completed PEST analysis with the relevant stakeholders.
Repeat ♻️
Being aware of these factors, strategise and plan to accommodate them in the future.
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