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PEST Analysis

PEST Analysis

by Nathanael Okhuysen

When preparing for the future, companies engage in strategic planning. This process looks at factors both inside and outside the company, and frequently employs a SWOT analysis, or similar framework, to organize the information generated. Strategic planning that examines external factors is called environmental scanning.

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Storyboard Description

PEST analysis storyboard - political, economic, social / cultural, and technology

Storyboard Text

  • Political
  • Economic
  • • Existing and upcoming legislation • Governmental and political stability • Taxes, tariffs, regulations, labor laws, etc.
  • Social/Cultural
  • P.E.S.T.
  • • Health of the overall economy • Unemployment • Interest rates, inflation, exchange rates, etc.
  • Technological
  • • Demographics • Education, health, class structure • Cultural norms and attitudes
  • • Recent technological developments • R&D activities • Rate and scope of technological changes
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