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
- Political
- Economic
- • Domestic widget licensing bill to be voted on • Privatization of Swedish widget industry imminent
- Social/Cultural
- Widget PEST
- • Widget raw materials prices projected to rise over the next 5 years • Local unemployment very low (may increase turnover) • Inflation rate is falling again
- Technological
- Sold
- Widgeter Mk. IV
- • 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)
- • Mk. IV widgeter currently cuts raw materials by up to 2% • Little R&D funding for widget innovation • Little room for further automation of widget manufacturing
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