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Essay Details:
Essay text:
A PEST analysis fits into an overall environmental scan as shown in the following diagram:
Environmental Scan
/ \
External Analysis Internal Analysis
/ \
Macroenvironment Microenvironment
|
P.E.S.T.
Political Factors
Political factors include government regulations and legal issues and define both formal and informal rules under which the firm must operate. Some examples include:
• tax policy
• employment laws
• environmental regulations
• trade restrictions and tariffs
• political stability
Economic Factors
Economic factors affect the purchasing power of potential customers and the firm's cost of capital...
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Common topics in this essay:
- Compare and contrast the strategies of war planning and business planning. What internal (micro) and external (macro) environmental factors or forces are considered important for the success of planning in business and war?
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