Analyze General External Environment using PEST analysis
1. Analyze General External Environment using PEST analysis (2 pages).
Political; situation is the main subject to study in this analysis. Current situation and projected situation in the future are considered carefully to predict how it affects the workflow of the company.
Economic; This economic factor concerns in both local and global scale.
Sociological; This factors studies how community affects decision making process of the company. In this analysis, customer demands and hot trends are the most popular examined criteria.
Technological; This factor is greatly important to examine, especially the outburst of the fourth industrial revolution is on the way to come. Examining emerging technology and the most favorable technology help business owners to keep up with the past pace of advanced technological development.