PEST Analysis – An Effective Tool Factors Affecting business growth. to Analyse

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P – Political E – EconomicS – SocialT – Technological

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For a business to attain its optimum performance, it is vital to identify and analyse the various factors that affect the environment that the business operates in. PEST analysis is an effective tool that determines the external factors affecting business growth.

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Political

Businesses are bound to be affected, when ever the government intervenes in the economy. The political factors that have a big impact on business are,

Employment Policies Tax Laws Trade Restrictions

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Economic

The micro and macro-economic factors influence how you should manage your business. PEST analysis is used to determine such economic factors including,

Interest rates Exchange rates Inflation Disposable incomes

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Social

Population trends, dietary considerations, ethics, media coverage and spending habits are some of the factors under social considerations that you need to observe in your business activity.

Technological Technological factors such as production, distribution and communication changes can affect the growth of your business.

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Do you think PEST analysis could help in your business strategy and marketing efforts? To find out, visit keynote.co.uk

Call: 0845 504 0452E-mail: sales@keynote.co.uk

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