PEST Analysis

Analyze your Political, Economic, Social, and Technological factors to stay ahead

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Use SWOT Analysis to Evaluate Strengths, Weaknesses, Opportunities and Threats
Use PEST Analysis to focus on Political, Economic, Social, and Technological factors
Use GAP Analysis to understand your current state and where you would like to be
Use Stop, Start, Continue Analysis to analyze what's working, what's not working
Use Pros and Cons Analysis to strategically vet any decision
Use WHY Analysis, inspired by Simon Sinek's Ted Talk, to focus on "purpose"
Use V2MOM Analysis inspired by the CEO of Salesforce to set annual goals
Use Problem Analysis to solve problems by focusing on the cause and effects
Use an Alignment Analysis to solidify your purpose, mission, goals, and core values
Use an Argument Analysis to analyzing differing points of view in a non-emotional way
Use Candidate Analysis to make better hiring decisions 

What is PEST Analysis?

A PEST Analysis is often used in conjunction with a SWOT Analysis to provide a macro look at external factors impacting a business objective.  This includes looking at political, economic, social/cultural, and technological factors that could have impact on your business objectives.    This includes looking at exchange rates, cultural norms, upcoming elections, population growth rates, and many more.

Political

How can existing or future political factors, such as future elections, taxes, trade practices, environmental law, political stability, impact your objective.

Economic

How can existing or future economic factors, such as growth rates, interest rates, exchange rates, inflation, impact your objective.

Social

How can existing or future social factors, such as cultural attitudes, health consciousness, age distribution, religious beliefs, population growth rate, career ambitions, impact your objective.

Technological

How can existing or future technological factors, such as R&D, barriers to entry, automation, technology incentives, rate of change, impact your objective.

How to Perform a PEST Analysis

1  Set a clear objective

A clear objective is critical to a successful PEST Analysis.  Example objective "to successfully expand into the European market and achieve 10% market share".  When your objective is clear everyone should be able to describe it in a consistent manner and can visualize what success looks like.

2  Create an online PEST Analysis & invite your team to brainstorm together

Use this online PEST Analysis TempIate and invite your team to share their input and rate the top ideas.

3  Brainstorm your Political, Economic, Social, and Technological factors

List out as many factors as your team can brainstorm for each quadrant. Then rate the top items by clicking on the star to float them to the top.

4  Build an action plan

We recommend using SMART goals to activate your action plan.  SMART stands for Specific, Measurable, Attainable, Relevant, and Time-bound goals.

When to use a PEST Analysis?

Any Specified Objective

For any goal, objective, decision where it is important for you to understand how the macro environment can impact your objective.

Product Strategy

What changes would you make your product based on cultural norms, environmental factors, new laws being enacted.

Process Strategy

Will your process work in other regions, markets, cultures.  How will new technology impact your prcoesses?

Customer Analysis

Do customer buy the same way in other regions?  How can political factors change customer buying decisions?

Partner Analysis

What will distributors and partners in other regions need from your business?

Finance Strategy

How will exchange rates and growth rates impact your profits?

Online PEST Analysis Template

PEST Analysis Examples

Be the first to submit your PEST Analysis to be featured here.  Send us your SWOTanalysis.com public link for your PEST analysis.  We will feature the best PEST Analysis from all industries

Video Tutorial

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