PEST Narrative

PEST Narrative
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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 example - environmental scanning

Storyboard Text

  • Recently, Sophie has thought about selling her crafts online. She likes it as a hobby, but wants to know how viable it would be for supplementing her income.
  • She worries it won't be successful though. She knows other people who have poured time and money into their online businesses without ever turning a profit.
  • Sophie decides to do some environmental scanning to decide if it's a good time to start an online store. She uses Storyboard That to organize her research, analyze opportunities, and inform her business plan.
  • Storyboard That's presentation options help her discuss her idea to fellow hobbyists, and even secure a small business loan.
  • Because she did her research and prepared, Sophie is careful in transitioning her hobby into a job. She has realistic expectations, and is prepared for the future. She is the proud operator of a successful small business!
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