<P> PEST analysis ( political , economic , social and technological ) describes a framework of macro-environmental factors used in the environmental scanning component of strategic management . It is part of an external analysis when conducting a strategic analysis or doing market research , and gives an overview of the different macro-environmental factors to be taken into consideration . It is a strategic tool for understanding market growth or decline , business position , potential and direction for operations . </P>
<P> PEST analysis ( political , economic , social and technological ) describes a framework of macro-environmental factors used in the environmental scanning component of strategic management . It is part of an external analysis when conducting a strategic analysis or doing market research , and gives an overview of the different macro-environmental factors to be taken into consideration . It is a strategic tool for understanding market growth or decline , business position , potential and direction for operations . </P>
political economic socio-cultural and technological are four areas that make up a
political economic socio-cultural and technological are four areas that make up a
a framework of macro-environmental factors
a framework of macro-environmental factors