Widget PEST
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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 with storyboards- business and strategic analysis
Storyboard Text
- Slide: 1
- Political
- • Domestic widget licensing bill to be voted on• Privatization of Swedish widget industry imminent
- Slide: 2
- Economic
- • Widget raw materials prices projected to rise over the next 5 years• Local unemployment very low (may increase turnover)• Inflation rate is falling again
- Slide: 3
- Social/Cultural
- Sold
- • New immigrants more likely to need widgets• Widgets continue to be viewed as traditional• Sustainable widget production more important to consumers• Retiring boomers (less likely to replace widgets)
- Slide: 4
- Technological
- Widgeter Mk. IV
- • Mk. IV widgeter currently cuts raw materials by up to 2%• Little RD funding for widget innovation• Little room for further automation of widget manufacturing
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